Travere pays Everest $112.5M upfront to grow rare kidney disease pipeline

Travere Therapeutics has entered into an exclusive licensing and collaboration agreement with Everest Medicines to develop and commercialize civorebrutinib, an experimental treatment targeting multiple immune-mediated rare kidney diseases.

Under the terms of the agreement, Travere will make an upfront payment of $112.5 million to Everest.

In exchange, Travere secures exclusive development and commercialization rights for the drug in all global markets outside of China and specific countries in East and Southeast Asia.

Everest remains eligible to receive up to approximately $1.03 billion in additional cash payments contingent upon the achievement of specified clinical development, regulatory, and commercial milestones across up to five indications.

Travere will also pay tiered royalties on future annual net sales, ranging from high single-digit to double-digit percentages.