Everest Medicines announced that it has acquired Chinese development, manufacturing, and commercialization rights to Cardamyst etripamil nasal spray from Corxel Pharmaceuticals Hong Kong (formerly Ji Xing Pharmaceuticals). Ji Xing acquired the Chinese rights to etripamil for paroxysmal supraventricular tachycardia (PSVT) from Milestone Pharmaceuticals in 2021. Everest says that it is paying the equivalent of approximately $30 million up front plus up to $20 million in milestones to assume the 2021 agreement, which covers mainland China, Hong Kong, Macao, and Taiwan.
In September 2024, Milestone announced that Ji Xing’s Phase 3 pivotal trial of etripamil nasal spray for PVST had met its primary endpoint. According to Everest, the Chinese National Medical Products Administration (NMPA) accepted an NDA for etripamil on January 17, 2025, with a response expected later this year.
In the US, the FDA approved Cardamyst for the treatment of PSVT in December 2025. In Europe, the EMA recently accepted MIlestone’s MAA for the nasal spray for the treatment of PVST. Everest notes that the nasal spray has also completed Phase 2 development for the treatment of atrial fibrillation with rapid ventricular response (AFib-RVR).
Everest CEO Rogers Yongqing Luo commented, “We are pleased to collaborate with Corxel, this agreement marks an important step in our continued expansion in the cardiovascular field and a meaningful milestone in advancing our growth 2030 strategy. PSVT is a large and significantly underserved market in China, with no fast-acting, non-injectable, self-administered therapies approved for the acute treatment of PSVT. Cardamyst provides an innovative on-demand treatment option that empowers patients to manage episodes anytime and anywhere. It is currently the only therapy designed for at-home self-administration to enable the acute termination of PSVT and AFib-RVR episodes, addressing a significant unmet medical need among patients in China. We will leverage our clinical development expertise and established commercialization platform to accelerate its advancement and future launch in Greater China, while further strengthening our cardiovascular franchise and unlocking its broader potential across atrial arrhythmias.”
Corxel CEO Sandy Mou said, “Since acquiring the rights to develop and commercialize etripamil nasal spray in 2021 in Greater China, Corxel has quickly rolled out its clinical development program and submitted its NDA application following positive topline data from the China Phase 3 trial for treating PSVT. This demonstrates Corxel’s strong execution capability in developing innovative medicines with speed and quality. We are pleased with the purchase agreement with Everest Medicines and are confident that Everest, with its deep expertise in cardiovascular therapeutics and strong commercialization capabilities, is the ideal partner to successfully bring etripamil nasal spray to clinical practice and benefit patients in China. This agreement also allows Corxel to further focus its resources on advancing the global development of its core pipeline.”
Read the Everest Medicines press release
