Everest Medicines closes USD310m Series C financing round

Everest Medicines, a biopharmaceutical company recently announced that it has successfully completed USD310 million in Series C financing round, which includes two preferred equity financing tranches, a US$260 million Series C-2 and a US$50 million Series C-1.

Everest Medicines, a biopharmaceutical company recently announced that it has successfully completed USD310 million in Series C financing round, which includes two preferred equity financing tranches, a US$260 million Series C-2 and a US$50 million Series C-1.

The Series C-2 was led by Janchor Partners and co-led by RA Capital Management and Hillhouse Capital with participation from investors including Decheng Capital, GT Fund, Janus Henderson Investors, Rock Springs Capital, Octagon Investments and a large long-term investor, as well as existing investors, including CBC Group, Cormorant, Pavilion Capital and HBM Healthcare Investments.

The Series C-1 comprised of a US$50 million investment from the Jiashan SDIC, which was part of a broader strategic partnership with Jiashan National Economic and Technological Development Zone and Jiashan SDIC announced on March 17, 2020.

Proceeds from the financing will be used to advance clinical development of Everest Medicines’pipeline of novel therapeutic candidates and build out a strong commercial infrastructure to support the next phase of growth. CEC Capital acted as the sole financial advisor in this transaction.

Everest Medicines is a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products that address critical unmet medical needs for patients in Greater China and other Asian markets.

The management team of Everest Medicines has deep expertise and an extensive track record of high-quality clinical development, regulatory affairs, CMC, business development and operations both in China and with leading global pharmaceutical companies.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/08/everest-medicines-closes-usd310m-series-c-financing-round/.

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