Newco Everest gains Chinese rights to Arena candidates

Arena Pharmaceuticals Inc. (NASDAQ:ARNA) granted Everest Medicines Ltd. (Boston, Mass.) exclusive rights to develop and commercialize ralinepag (APD811) and etrasimod (APD334) in China, Taiwan, Hong Kong, Macau and South Korea.

Arena will receive a $12 million upfront payment and is eligible for up to $212 million in development and sales milestones, plus up to low double-digit royalties for both candidates...