Everest Medicines Enters into Agreement with Corxel Pharmaceuticals to Develop and Commercialise CARDAMYST Nasal Spray
Monday, March 23, 2026
Everest Medicines has entered into an asset purchase agreement with Corxel Pharmaceuticals Hong Kong Limited to develop, manufacture and commercialise CARDAMYST (etripamil) nasal spray in Greater China, covering Mainland China, Hong Kong, Macao and Taiwan.
CARDAMYST is a fast-acting calcium channel blocker delivered as a nasal spray. It is designed for on-demand use and can be self-administered by patients. The treatment received approval from the U.S. Food and Drug Administration in December 2025 for the conversion of paroxysmal supraventricular tachycardia (PSVT) to normal sinus rhythm in adults. It is the first self-administered nasal spray of its kind for this condition in over three decades.
PSVT is a heart rhythm disorder caused by abnormalities in the heart’s electrical system, leading to sudden episodes of rapid heart rate. There are currently no approved fast-acting, non-injectable treatments that patients can use themselves. The condition affects an estimated 3 to 6 million people in China.
AFib-RVR is another form of irregular heart rhythm associated with elevated heart rate and increased risk of complications such as stroke and heart failure. Atrial fibrillation affects around 1.6% of the population in China, representing nearly 20 million people, with numbers expected to rise due to an ageing population.
Etripamil has also demonstrated promising results in a Phase II study for AFib-RVR, where it significantly reduced heart rate compared with placebo. Its safety profile was consistent with previous findings.
Everest will make an upfront payment of US$30 million, along with potential development milestone payments of up to US$20 million. The company will also assume certain rights and obligations from an earlier licence agreement signed by Corxel in 2021, along with related arrangements.
This agreement strengthens Everest Medicines’ cardiovascular portfolio and supports its strategy to expand through both partnerships and internal research. It also allows Corxel to focus on advancing its core pipeline globally.
Source: everestmedicines.com
