Everest to fund late-stage trials with $310M mountain of fresh cash

A new $310 million series C round for Everest is the largest venture round yet for an Asian therapeutics developer, and could set the cross-border licensing and development company up for an IPO at a valuation in the billions.

Everest Medicines Ltd. is conducting late-stage development of several in-licensed candidates for diseases prevalent in China and other Asian territories, where it typically holds local rights. At least four are in Phase III testing by Everest alone or in conjunction with Western partners. The company maintains offices in both the U.S. and China...