Everest Medicines Enters into Asset Purchase Agreement for Etripamil Nasal Spray, Expanding Cardiovascular Footprint
(firmenpresse) - HONG KONG, Mar 23, 2026 - (ACN Newswire) – Everest Medicines today announced that it has entered into an Asset Purchase Agreement with Corxel Pharmaceuticals Hong Kong Limited (“CORXEL”). Under the agreement, the Company has acquired the rights to develop, manufacture, and commercialize CARDAMYST™ (etripamil) nasal spray in Greater China, including Chinese Mainland, Hong Kong, Macao and Taiwan region.
Under the terms of the agreement, Everest will pay CORXEL an upfront payment of US$30 million (equivalent to approximately RMB344,895,000), as well as potential development milestone payments of up to US$20 million (equivalent to approximately RMB137,958,000). As part of this agreement, Everest will be assigned and transferred rights, interests, claims, duties, obligations and liabilities (other than certain excluded liabilities) under the Milestone License Agreement entered into by CORXEL in May 2021 and certain related ancillary agreements.
CARDAMYSTTM (etripamil) nasal spray is a novel, rapid-acting calcium channel blocker as administered as needed via a convenient, portable nasal spray. It offers rapid onset of action, favorable tolerability, and the potential for at-home self-administration, enhancing patient accessibility. In December 2025, CARDAMYST was approved by the U.S. Food and Drug Administration (FDA), becoming the first and only self-administered nasal spray in more than 30 years capable of converting paroxysmal supraventricular tachycardia (PSVT) to sinus rhythm in adults. As a rapid-acting treatment option, CARDAMYST can be self-administered outside the emergency department or other healthcare settings, enabling patients to actively manage episodes and gain greater control over their condition. In addition to its approved indication for PSVT, etripamil nasal spray is also under clinical development for atrial fibrillation with rapid ventricular response (AFib-RVR). Phase II trials have shown encouraging results, and Phase III trials are planned, with the potential to further extend its therapeutic impact to a broader patient population.
In China, the New Drug Application (NDA) for etripamil nasal spray was accepted by the National Medical Products Administration (NMPA) on January 17, 2025 and is expected to receive approval in the third quarter of 2026.
PSVT is characterized by abnormalities in the heart’s electrical system that cause sudden unexpected and often severely symptomatic episodes of rapid heart rate. There are currently no approved self-administered, fast-acting, non-injectable therapies for acute PSVT, leaving patients with limited treatment options beyond emergency care. Approximately 2.3 to 4 per 1,000 individuals are affected by PSVT, representing an estimated 3 to 6 million patients in China.
AFib-RVR is a type of irregular heart rhythm, characterized by an irregular and elevated heart rate. Its onset is typically gradual, episodes are less likely to terminate spontaneously, and the condition tends to recur, significantly increasing the risk of thromboembolism and serious complications such as stroke and heart failure. In China, atrial fibrillation affects an estimated 1.6% of the population, representing nearly 20 million patients, and is expected to increase with an aging population. Both PSVT and AFib-RVR are associated with a loss of control and a significant psychological burden for patients.
Overall, the combined patient population for PSVT and AFib-RVR exceeds 25 million, representing a significantly unmet clinical need that urgently requires more convenient and more effective treatment options.
In terms of clinical data, the NDA for etripamil nasal spray was accepted by the NMPA based on data from the pivotal global Phase 3 RAPID study and the China Phase 3 JX02002 study. Both trials met their primary endpoints. Overall, the treatment emergent adverse events (TEAEs) were comparable between the etripamil and placebo groups.
The FDA approval of CARDAMYST was supported by a robust clinical program that included safety data from more than 1,800 participants across more than 2,000 PSVT episodes. This included the Phase 3 RAPID trial, a global, randomized, double-blind comparison of etripamil versus placebo, published in The Lancet in 2023. The RAPID trial achieved its primary endpoint, with 64% of participants who self-administered etripamil (N=99) converting from supraventricular tachycardia (SVT) to sinus rhythm within 30 minutes compared with 31% on placebo (N=85) (HR = 2.62; p
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Datum: 24.03.2026 - 03:02 Uhr
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