CBC-incubated Everest Medicines Successfully Lists on HKEX

Everest raises HK$3.495 billion in IPO

SHANGHAI, Oct. 8, 2020 /PRNewswire/ -- CBC Group ("CBC"), a healthcare-dedicated investment platform, today celebrates the initial public offering (IPO) of Everest Medicines ("Everest") (1952.HK), a portfolio company incubated by CBC, on the Stock Exchange of Hong Kong. Everest Medicines is a late clinical-stage biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products that address critical unmet medical needs for patients in Greater China and other parts of Asia.

Everest Medicines raised approximately HK$3.495 billion through the offering of 63,547,000 ordinary shares at a price of HK$55.00 per share, and which began trading on October 9, 2020 under the ticker '1952.HK'.

"CBC is delighted to witness the listing of Everest today on the HKEX," said Fu Wei, Chief Executive Officer of CBC Group and Chairman of Everest Medicines. "This is not just a milestone for Everest, but also one for CBC. We founded the business with a vision and drive to build, grow and transform Everest into an innovative biotech platform. We are incredibly proud to see what the company has managed to achieve in just three years. Everest's pipeline of discovery drugs has the potential to advance and revolutionize therapeutic treatments in oncology, autoimmune disorders, cardio-renal diseases and infectious diseases, and we look forward to continuing to support them as they look to transform China's burgeoning biotech industry."

Since Everest's establishment in 2017, CBC played an integral role in the management and operations of the business, assembling a world-class clinical development, regulatory and commercial management team while also supporting the firm's end-to-end business development.

To date, Everest has made remarkable progress, building a robust pipeline of eight promising clinical-stage high value assets that possess significant commercial potential in China and other Asian markets.

In addition to Everest, CBC has also seen strong momentum in 2020:

• I-Mab Biopharma: Co-founded by CBC, the immunology-focused biopharmaceutical company successfully listed on Nasdaq in January and became the first U.S. listing by a Chinese biotech since 2017. More recently on September 4, I-Mab successfully entered into a global partnership agreement with AbbVie (ABBV.US), a world-renowned research biopharmaceutical company, for the development and commercialization of lemzoparlimab (also known as TJC4), an I-Mab-discovered and developed innovative anti-CD47 monoclonal antibody for the treatment of various cancers. The potential value of the deal is close to US$3 billion, setting a record for the transfer of interests in new innovative drug products from China to the rest of the world.
• NiKang Therapeutics: An innovative CBC-incubated biotech company focused on small molecule medicines, NiKang announced the completion of a US$50 million Series B funding round. Earlier in April, NiKang also entered into a development and commercialization partnership for a novel treatment for anti-viral diseases in China, where NiKang is eligible to receive upfront fees of more than US$100 million, in addition to royalties on future net product sales.
• Lu Daopei Medial Group: As China's largest and most reputable privately owned hematology hospital group, Daopei recently announced the completion of its Series B+ funding round of over RMB100 million (approximately US$14.6 million), following its RMB500 million (approximately US$74.0 million) Series B financing round led by Temasek Holdings and with participation from Investcorp Holdings earlier this year in July.
• Anrei Group: A leading provider of medical devices for minimal invasive surgeries in China, Anrei is CBC's acquisition vehicle for integration across the surgical market. Since CBC's acquisition in late 2016, Anrei's revenue has grown six times and net income grown fifteen times. In July 2020, Anrei successfully completed a pre-IPO finance round at a blended valuation of ~RMB1.7 billion (approximately US$240 million), drawing support from GL Capital and CICC, among others.
• R-Bridge Healthcare Fund: CBC raised a first of its kind US$300 million private credit fund that is dedicated solely to providing alternative, non-dilutive financing to healthcare companies backed by royalties, revenue interest and other cash flows generated by the sale of healthcare products and services in Greater China.

About CBC Group

CBC Group (formerly C-Bridge Capital) is one of the largest and most active healthcare-dedicated investment firms in Asia focused on platform-building and buyout opportunities across three core areas within the healthcare sector: pharmaceutical & biotech, medtech and healthcare services. CBC's operationally intensive approach empowers healthcare sector champions to make transformative changes to enable sustainable long-term growth, fulfill unmet medical needs and continuously improve the standard of living and quality of care in China and the rest of Asia. Founded in 2014, CBC has a strong team of investment, healthcare and portfolio management professionals based across Singapore, Shanghai, Beijing, Hong Kong and New York. For more information, please visit www.cbridgecap.com.

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