Everest Medicines (HKEX 1952.HK, “Everest” or the “Company”), a biopharmaceutical company focused on the discovery, clinical development, manufacturing, and commercialization of innovative therapeutics, today announced that it has entered into a placing and subscription agreement with the placing agents and its controlling shareholder, CBC Group (the “Sellers”), for a top-up placement of 22,561,000 shares to raise approximately HK$1,572.50 million, representing approximately 6.87% of the total number of Shares in issue as at the date of this announcement, and approximately 6.45% of the total number of Shares in issue.
Everest Medicines, together with its controlling shareholder CBC Group and the placing agents, entered into a placing and subscription agreement for the sale of 22,561,000 shares at a purchase price of HK$69.70 per share, representing:
a discount of approximately 10.12% to the closing price of HK$77.55 per share on July 24, 2025.
a discount of approximately 4.98% to the average closing price of HK$73.35 per Share as quoted on the Stock Exchange for the five consecutive trading days immediately prior to and including the Last Trading Date.
a premium of 16.15% to the volume weighted average price of HK$60.01 per Share as quoted on the Stock Exchange for the thirty consecutive trading days immediately prior to the Last Trading Date and including the Last Trading Date.
The gross proceeds from the Placing and Subscription are expected to be approximately HK$1,572.50 million, and the net proceeds (after deducting all related expenses, including commission and levies) will be approximately HK$1,553.39 million.
Everest Medicines intends to use approximately 50% of the net proceeds (approximately HK$776.69 million) to support global research and development of pipeline products, approximately 40% (approximately HK$621.36 million) to commercialization efforts including the launch of new products, and 10% (approximately HK$155.34 million) to working capital and general corporate purposes.
“This placement was well-received by several leading international long-only funds and was significantly oversubscribed, reflecting strong capital market confidence in Everest’s commercial execution capabilities and innovative R&D strengths,” said Rogers Yongqing Luo, Chief Executive Officer of Everest Medicines. “It also underscores investors’ endorsement of our long-term strategic vision. We will use the proceeds to accelerate the development of innovative pipelines and our proprietary AI+mRNA platform, while advancing the commercialization of our existing portfolio. With a strengthened capital base, we are poised to drive both commercialization and innovation, delivering greater value to patients and shareholders.”
Everest has built an industry-leading, fully integrated, and localized AI+mRNA platform, enabling the development of multiple oncology and autoimmune disease programs, including EVM14, an off-the-shelf therapeutic mRNA cancer vaccine; EVM16, a personalized mRNA cancer vaccine; and an in vivo CAR-T program aimed at building a differentiated portfolio of precision immunotherapies.
The first patient has been dosed with Everest’s internally developed personalized mRNA cancer vaccine (PCV) EVM16 at Peking University Cancer Hospital in the investigator-initiated clinical trial (IIT). Early results showed strong immunogenicity and specific T-cell responses even at a low starting dose in advanced cancer patients.
The Investigational New Drug (IND) application for EVM14, a Tumor-Associated Antigen (TAA) vaccine, has been accepted by both the National Medical Products Administration (NMPA) of China and the U.S. Food and Drug Administration (FDA), making it Everest's first mRNA cancer therapeutic vaccine to achieve dual IND submissions in both China and the United States. The first clinical batch of EVM14 was successfully released from Everest’s Jiashan manufacturing site on June 9, and is anticipated to be delivered to U.S. clinical centers by mid-August. This batch will support the clinical trials of EVM14 in both China and the United States (US).
Everest’s in vivo CAR-T program is founded upon its proprietary targeted LNP (tLNP) delivery system ...
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