Business
Everest Medicines Enters into Letter of Intent with Hasten Biopharmaceuticals (Asia) Limited
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 letter of intent (the "Letter of Intent") with Hasten Biopharmaceuticals (Asia) Limited (the ''Seller'') in relation to the possible acquisition (the ''Possible Acquisition'') of the entire equity interest in Hasten Biopharmaceuticals (SG) Pte. Ltd., a
About this update from Everest Medicines Ltd.
[{"type":"text","content":"SHANGHAI, March 18, 2026 /PRNewswire/ -- 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 letter of intent (the "Letter of Intent") with Hasten Biopharmaceuticals (Asia) Limited (the ''Seller'') in relation to the possible acquisition (the ''Possible Acquisition'') of the entire equity interest in Hasten Biopharmaceuticals (SG) Pte. Ltd., a wholly-owned subsidiary of the Seller (the ''Target Company''). The Possible Acquisition is expected to supplement the Company's existing pipeline and is intended to further expand its scale and strategic presence across the Asia-Pacific region.","length":868,"tagName":"p"},{"type":"text","content":"Hasten Biopharmaceuticals (SG) Pte. Ltd. is a company incorporated in Singapore principally engaged in the commercialization of prescription pharmaceutical products, with a strategic focus on chronic diseases and acute/critical care areas, in particular in the cardiovascular and metabolic segments. It has built a commercial platform, and holds asset rights, including Marketing Authorization Holder (MAH) rights, trademarks and broad commercial rights for 14 branded chronic disease products across the Asia-Pacific region, benefiting tens of millions of patients with chronic diseases.","length":588,"tagName":"p"},{"type":"text","content":"Everest Medicines shall pay to the Seller a refundable deposit (the ''Refundable Deposit'') of RMB200 million no later than five business days following the execution of the Letter of Intent. The Refundable Deposit shall be converted into a part of the consideration under a Possible Acquisition (if it materializes), or refunded to the Company, as mutually agreed between the parties. The Company plans to fund the Refundable Deposit with its existing resources.","length":479,"tagName":"p"},{"type":"text","content":"Following the signing of the Letter of Intent, the Seller will authorize Hasten Biopharmaceuticals (SG) Pte. Ltd management to allow the Company to conduct due diligence, and agree to a six-month exclusivity period (the ''Exclusivity Period'').","leng...