Everest Medicines Announces Amended Agreement with Spero Therapeutics

SHANGHAI,Jan. 18,2021 -- Everest Medicines,a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products that address critical unmet medical needs for patients in Greater China and other parts of Asia,today announced that under an amended license agreement with Spero Therapeutics,the relevant patents for SPR206 will be assigned to Everest in Greater China,South Korea and certain Southeast Asian countries (the "Territory"). The companies announced in January 2019 a collaboration agreement to develop,manufacture and commercialize SPR206 in the Territory.

SPR206 is in clinical development as an innovative option for the treatment of multi-drug resistant (MDR) Gram-negative bacterial infections.Spero has previously reported data from a Phase 1 double-blind,placebo-controlled single ascending dose (SAD) and multiple ascending dose (MAD) clinical trial of SPR206suggesting that SPR206iswell-tolerated at doses that are likely to be within a therapeutic range for targeting MDR Gram-negative bacterial infections. In addition,no evidence of nephrotoxicity was observed in the study. Spero plans to initiate additional Phase 1 studies to assess the penetration of SPR206 into the pulmonary compartment and pharmacokinetics in subjects with renal impairment in 2021.

"We are excited by the potential of SPR206 to address the critical global health issue of antibiotic drug resistance,which is also a significant and growing concern in the Greater China region. A next generation polymyxin with improved safety and tolerability would be a true breakthrough for treating these difficult infections," said Sunny Xu Zhu,Chief Medical Officer for Infectious Disease at Everest Medicines. "We look forward to accelerating the development of SPR206 in Asia and working closely with our partners at Spero Therapeutics to advance this novel product candidate for patients around the world with limited treatment options."

About SPR206

SPR206 is a potentially best-in-class,novel polymyxin derivative that was designed to reduce the kidney toxicity that is seen clinically with polymyxin B and colistin. Polymyxins are antibiotics frequently used as a last resort for challenging MDR gram-negative infections,but they are associated with significant neurotoxicity and nephrotoxicity. In a double-blind,placebo-controlled Phase 1 clinical trial in healthy volunteers conducted by our partner Spero Therapeutics,SPR206 appeared well tolerated at doses likely to be within a therapeutic range for MDR Gram-negative bacterial infections. Importantly,it also showed no evidence of nephrotoxicity at the doses tested.

About Everest Medicines

Everest Medicines is a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products that address critical unmet medical needs for patients in Greater China and other Asian markets. The management team of Everest Medicines has deep expertise and an extensive track record of high-quality clinical development,regulatory affairs,CMC,business development and operations both in China and with leading global pharmaceutical companies. Everest Medicines has built a portfolio of eight potentially global first-in-class or best-in-class molecules,many of which are in late stage clinical development. The Company's therapeutic areas of interest include oncology,autoimmune disorders,cardio-renal diseases and infectious diseases. For more information,please visit its website atwww.everestmedicines.com.

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