Everest Medicines today announced that it has successfully completed US$310 million in Series C financing. The US$310 million Series C financing includes two preferred equity financing tranches, a US$260 million investment into Series C-2 shares and a US$50 million investment into Series C-1.

The Series C-2 was led by Janchor Partners and co-led by RA Capital Management and Hillhouse Capital with additional support from new investors, including Decheng Capital, GT Fund, Janus Henderson Investors, Rock Springs Capital, Octagon Investments and a large, reputable long-term investor. Existing investors, including CBC Group, Cormorant, Pavilion Capital and HBM Healthcare Investments also participated.

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.

CEC Capital Group served as the exclusive financial advisor of Everest Medicines in this transaction.

Proceeds from the financing will be used to advance clinical development of Everest Medicines’ robust pipeline of novel therapeutic candidates and build out a strong commercial infrastructure to support the next phase of growth. To date, the Company has made important progress with its broad pipeline.

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.

Everest Medicines has built a portfolio pipeline covering four major therapeutic areas: oncology, immune diseases, infectious diseases, and heart and kidney diseases. All of these areas have large unmet clinical needs and market potential in the Asia-Pacific region. Each candidate in its own has a market potential of billions of yuan in China.

Everest Medicines was incubated by CBC Group to bring together world-leading experts in product business development, clinical registration and development, product commercialization, and finance and investment. Everest Medicines was established less than three years ago, and its achievements in the clinical progress and commercialization of its product pipeline, as well as its profile in global capital markets, are a testament to its strong execution and deep understanding of the industry.