Everest Medicines announced today two separate definitive agreements with Providence Therapeutics Holdings, developing messenger RNA (mRNA) therapeutics and vaccines.

Under the terms of the agreements, Everest gains rights to Providence’s mRNA Covid-19 vaccines in Greater China, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Pakistan, Philippines, Singapore, Thailand, Timor-Leste and Vietnam.

Providence’s lead mRNA Covid-19 vaccine candidate, PTX-COVID19-B, currently in Phase 2 clinical trials, has demonstrated that it is generally safe and well-tolerated and that the PTX-COVID19-B dosed subjects have high neutralization titers against the original strain of SARS-CoV-2 (G614) in an S protein-typed pseudovirus assay. All subjects produced neutralizing antibodies after the first dose and the levels increased more than 10-fold after the second dose. The sera from PTX-COVID19-B vaccinated subjects also had high neutralization titers against current variants of concern (“VOC”) Alpha, Beta and Delta, that compare favourably to currently approved mRNA vaccines. Everest will also gain rights to Providence’s next-generation mRNA Covid-19 vaccine candidates against specific VOC which are in pre-clinical development. 

“We’re thrilled to enter into this agreement with a strong partner such as Everest as we work together to bring novel mRNA vaccines, like PTX-COVID19-B, to patients in need around the world and help combat COVID-19 as well as other diseases,” commented Brad Sorenson, CEO of Providence Therapeutics. “

“I am excited to work with Providence and we share in their passion to make affordable, innovative, high-quality medicines available to patients in need. We believe that mRNA vaccine for Covid-19 can provide another option in the armamentarium for fighting this pandemic. The platform will enhance our discovery efforts and will allow us to explore the promise of mRNA therapies for patients across a variety of key disease areas,” said Kerry Blanchard, MD, PhD, Chief Executive Officer of Everest Medicines. “

Providence will be paid US $ 50 million in cash upfront for PTX-COVID19-B and other Covid-19 mRNA vaccine candidates targetting specific variants that haven’t yet entered clinical trials. It will also receive up to US $ 100 million in profit-sharing initially, and more in royalties later.

India’s Biological E announced in June a licensing deal with Providence to manufacture its mRNA COVID-19 vaccine in the South Asian nation.