Everest Medicines (HKG: 1952) recently unveiled major breakthroughs in its proprietary AI-powered mRNA platform during its 2025 R&D Day held in Shanghai. The event showcased the company’s progress in building a fully integrated and independently operated mRNA platform and highlighted significant breakthroughs across several pipeline programs in cancer and autoimmune diseases.
These achievements not only mark the accelerated implementation of Everest Medicines’ “dual-engine” strategy, but also reflect the company’s evolution from an initial license-in model to a balanced approach that integrates in-house discovery with global partnerships and in-licensing—focusing on high-value therapeutic areas and the development of first-in-class or best-in-class assets.
Everest is among a select group of biopharmaceutical companies worldwide with full in-house capabilities across the entire mRNA development chain. The company has successfully localized and industrialized its mRNA platform, building a fully integrated and scalable end-to-end system that spans AI-powered antigen design, mRNA sequence optimization, proprietary LNP delivery technologies, and GMP-compliant manufacturing.
Everest has developed an advanced LNP platform with over 500 proprietary lipid formulations, underpinned by a strong patent portfolio focused on ionizable and stealth lipids. This platform supports flexible delivery for a wide range of modalities, including vaccines and in vivo CAR-T therapies. Preclinical data have demonstrated the platform’s high efficacy, safety, and tunable delivery across hepatic and extrahepatic tissues, enabling both passive and active targeting strategies. The platform also boasts clinical validation through Everest’s COVID-19 vaccine candidate, PTX-COVID19-B, which in a global Phase 2 head-to-head trial showed comparable immunogenicity and tolerability to Pfizer/BioNTech’s Comirnaty®.
At the R&D Day, Everest unveiled development updates on three key assets powered by its AI+mRNA platform. EVM16 is a novel personalized mRNA cancer vaccine developed in-house using the company’s third-generation AI-based neoantigen prediction algorithm, EVER-NEO-1. This algorithm identifies patient-specific mutations and encodes them into customized mRNA sequences, which are delivered via LNPs to stimulate targeted T-cell responses. Preclinical studies in melanoma models demonstrated strong antitumor efficacy and synergy with PD-1 inhibitors. In March 2025, the first patient was dosed in an investigator-initiated trial (IIT), with early results showing robust, mutation-specific T-cell responses even at low initial doses—highlighting both the vaccine’s strong immunogenicity and the reliability of Everest’s proprietary EVER-NEO-1 AI algorithm.
EVM14 is an off-the-shelf therapeutic mRNA vaccine targeting five tumor-associated antigens, applicable to multiple squamous carcinomas including non-small cell lung cancer and head and neck cancer. Preclinical research indicates EVM14 may enhance immune memory and reduce tumor recurrence. The program has received FDA Investigational New Drug (IND) clearance and is progressing toward IND submission in China. The first clinical batch of EVM14 were released from Everest’s Jiashan manufacturing facility in June 2025 and are expected to arrive at U.S. clinical trial centers by mid-August.
For its in vivo CAR-T program, Everest is leveraging a proprietary targeted lipid nanoparticle (tLNP) delivery system, which enables the in vivo generation of CAR-T cells without the need for lymphodepletion. In preclinical studies conducted in both humanized mouse models and non-human primates (NHPs), the approach demonstrated high T-cell transduction efficiency, robust CAR expression, and effective B-cell clearance. This therapy offers a scalable, off-the-shelf alternative to conventional CAR-T treatments, with controllable dosing and an improved safety profile—positioning it as a potential game-changer in both oncology and autoimmune indications.
Everest Medicines’ AI+mRNA platform is advancing the development of a broad pipeline of therapeutic candidates, with strong potential demonstrated in cancer and autoimmune diseases. These advancements further demonstrate the effectiveness of Everest’s dual-engine strategy, underscoring the company’s ability to execute on its vision of combining in-house innovation with strategic external partnerships.
According to Everest Medicines CEO Rogers Yongqing Luo, personalized mRNA vaccines and in vivo CAR-T therapies are emerging as promising solutions to address critical challenges in cancer treatment, such as poor immune memory and high recurrence rates. He noted that mRNA technology—characterized by rapid design, scalable production, and cross-indication versatility—is reshaping the landscape of precision medicine. Everest plans to continue leveraging its end-to-end mRNA platform to advance key pipeline programs, including cancer vaccines and mRNA-based cell therapies, while expanding opportunities for application and global collaboration.
Rogers also revealed that the company has initiated discussions with several top 20 global pharmaceutical companies and is leveraging international resources to accelerate the global development of its innovative assets.
As Everest continues to advance both clinically and technologically, the integration of its mRNA platform with its core assets in nephrology and immunology is expected to drive a robust three-pillar growth strategy—anchored in platform innovation, differentiated products, and targeted market expansion. Backed by strong momentum across three globally competitive assets and a clinically validated, IP-rich platform, Everest is well positioned to redefine its long-term valuation narrative and emerge as a global leader in next-generation therapeutics.