Everest Medicines (HKEX 1952.HK, "Everest", or the "Company"), a biopharmaceutical company focused on the discovery, clinical development, manufacturing, and commercialization of innovative therapeutics, announced that it has entered into a letter of intent (the "Letter of Intent") with Hasten Biopharmaceuticals (Asia) Limited (the ''Seller'') in relation to the possible acquisition (the ''Possible Acquisition'') of the entire equity interest in Hasten Biopharmaceuticals (SG) Pte. Ltd., a wholly-owned subsidiary of the Seller (the ''Target Company''). The Possible Acquisition is expected to supplement the Company's existing pipeline and is intended to further expand its scale and strategic presence across the Asia-Pacific region.  

Hasten Biopharmaceuticals (SG) Pte. Ltd. is a company incorporated in Singapore principally engaged in the commercialization of prescription pharmaceutical products, with a strategic focus on chronic diseases and acute/critical care areas, in particular in the cardiovascular and metabolic segments. It has built a commercial platform, and holds asset rights, including Marketing Authorization Holder (MAH) rights, trademarks and broad commercial rights for 14 branded chronic disease products across the Asia-Pacific region, benefiting tens of millions of patients with chronic diseases.

Everest Medicines shall pay to the Seller a refundable deposit (the ''Refundable Deposit'') of RMB200 million no later than five business days following the execution of the Letter of Intent. The Refundable Deposit shall be converted into a part of the consideration under a Possible Acquisition (if it materializes), or refunded to the Company, as mutually agreed between the parties. The Company plans to fund the Refundable Deposit with its existing resources.

Following the signing of the Letter of Intent, the Seller will authorize Hasten Biopharmaceuticals (SG) Pte. Ltd management to allow the Company to conduct due diligence, and agree to a six-month exclusivity period (the ''Exclusivity Period'').

With a population of approximately 600 million, the Southeast Asia region has significant unmet medical needs and substantial market potential in chronic disease management. Everest's product pipeline also focuses on chronic disease therapeutic areas such as CKM (cardiovascular, kidney, and metabolic diseases), demonstrating potential synergies with Hasten Biopharmaceuticals' product portfolio and commercial platform.

Over the past three years, Everest Medicines has established a leading commercialization platform for innovative therapies in chronic diseases in China, as evidenced by the robust sales and growth of NEFECON^®. The Company aims to expand its presence in the Asia-Pacific region and, over time, evolve into a leading global biopharmaceutical company. Beyond Mainland China, the Company's commercialized products, including NEFECON^®, VELSIPITY^® and XERAVA^®, have received or are progressing toward new drug application approvals in authorized Asian markets, with inclusion in local reimbursement regimes.

Through the Possible Acquisition, Everest Medicines could accelerate the commercialization of its existing products in Asian markets, thereby driving growth in overseas sales revenue, and would represent a significant step toward its broader global expansion strategy by extending its commercial footprint across Asia.