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Everest Files IND for China Phase III Trial of Novel Antibiotic

publication date: Jun 12, 2018

Everest Medicines, a US-China startup that in-licenses drugs for China's market, filed an IND to start a Phase III clinical trial of eravacycline in complicated intra-abdominal infections (cIAI). In February, Everest acquired greater China rights to eravacycline in a $43.5 million deal ($7 million upfront) from Tetraphase Pharma of the US. Founded in 2017, Everest began operations with a $50 million investment from C-Bridge Capital, the first tranche of an initial round expected to raise $130 million. More details....

Stock Symbol: (NSDQ: TTPH)

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