Arena grants newco Everest Chinese rights to 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 $12 million up front and is eligible for $212 million in development and sales milestones, plus royalties up to low double-digits for both candidates...