Everest Medicines Limited (EVEREST MED) has completed its exclusive licence and collaboration agreement with U.S.-based biopharmaceutical firm Travere Therapeutics, Inc., according to a voluntary announcement filed on 7 July 2026.

Under the terms confirmed at closing, Everest Medicines—acting as licensor—receives an upfront payment of US$112.50 million from Travere. The company is also eligible for development, regulatory and commercial milestone payments that could reach up to US$1.03 billion across as many as five indications. In addition, Everest Medicines will earn tiered royalties ranging from the high single-digit to double-digit percentages on future annual net sales.

The collaboration centres on civorebrutinib (EVER001), a next-generation covalent reversible Bruton’s tyrosine kinase (BTK) inhibitor being developed globally for renal diseases. BTK plays a pivotal role in B-cell receptor signalling, and its inhibition has shown therapeutic potential in B-cell-driven autoimmune disorders.

Everest Medicines cautioned that successful development and commercialisation of civorebrutinib is not guaranteed and advised shareholders and potential investors to exercise due care when dealing in its shares.