EVEREST MED (01952) announced that on February 4, 2026, its indirect wholly-owned subsidiary, Everest Medicines Technology Co., Ltd., entered into an agreement with Shaanxi Micot Pharmaceutical Technology Co., Ltd. Pursuant to this agreement, Micot has irrevocably granted the subsidiary exclusive commercialization rights for MT1013 in China and the Asia-Pacific region, excluding Japan.
MT1013 is a world-first dual-target receptor agonist peptide that simultaneously targets the calcium-sensing receptor (CaSR) and the osteogenic growth peptide (OGP) receptor. It is primarily being developed for the treatment of secondary hyperparathyroidism (SHPT), for which its Phase III clinical trial in China is currently underway, with related clinical development costs to be borne by Micot. Under the exclusive license, the subsidiary's payment obligations include an upfront payment of RMB 200 million and potential regulatory and commercial milestone payments of up to RMB 1.04 billion.
This global innovative dual-target peptide agonist is designed mainly for SHPT, with plans to expand into additional indications, including chronic kidney disease-mineral and bone disorder (CKD-MBD) accompanied by osteoporosis and SHPT in patients not yet on dialysis. MT1013 successfully completed a Phase II clinical study (MT1013-II-C01) for SHPT in May 2025 and has since progressed to a Phase III study using cinacalcet as a control.
Secondary hyperparathyroidism (SHPT) is a disorder of the parathyroid glands caused by imbalances in calcium, phosphorus, and vitamin D metabolism, characterized by parathyroid hyperplasia and the excessive secretion of parathyroid hormone (PTH). As chronic kidney disease progresses, declining renal function reduces phosphorus excretion, leading to hyperphosphatemia; concurrently, the kidney's diminished capacity to produce active vitamin D results in insufficient intestinal calcium absorption, causing hypocalcemia.
Hyperphosphatemia and hypocalcemia collectively stimulate the proliferation of parathyroid cells, prompting excessive PTH secretion. This, in turn, leads to abnormal bone metabolism, accelerates vascular and soft tissue calcification, and increases the patient's cardiovascular burden. SHPT can trigger severe multi-system complications, including but not limited to osteoporosis, myocardial infarction, heart failure, and peripheral neuropathy, significantly contributing to reduced quality of life and survival rates.
Elevated PTH levels can cause vascular calcification, myocardial hypertrophy, and arrhythmias, representing the primary cause of death in over 50% of SHPT patients. Dialysis patients with significantly elevated PTH levels (PTH >600 pg/mL) face a cardiovascular mortality risk two to three times higher than those within the normal range. The market size for SHPT therapeutics in China is projected to reach RMB 5.5 billion by 2030 and expand to RMB 14.1 billion by 2035, reflecting a compound annual growth rate of 20.5%.
The Board believes that this strategic collaboration with Micot will strengthen the Group's existing renal disease portfolio and help consolidate its leadership position in the renal and autoimmune disease sectors in Asia, which are core therapeutic areas for the Group. This partnership will also enable the Group to broaden its renal disease product offerings from Immunoglobulin A nephropathy to encompass a wider spectrum of chronic kidney diseases.