Feb. 20, 2018
Tetraphase Pharma, a biopharmaceutical company focused on developing and commercializing novel antibiotics to treat life-threatening multidrug-resistant (MDR) infections, announced that it has entered into an exclusive licensing agreement with China-based Everest Medicines, to develop and commercialize eravacycline in mainland China, Taiwan, Hong Kong, Macau, South Korea, and Singapore.
Under the terms of the agreement, Tetraphase will receive an initial upfront payment of $7.0 million and may receive clinical and regulatory milestones of up to $16.5 million, as well as annual sales milestones of up to $20.0 million. Everest will be solely responsible for the development and commercialization of eravacycline in the licensed territories. Tetraphase will also be eligible to receive double digit tiered royalties on net sales of eravacycline in the licensed territories.