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Huahai In-licenses Immuno-Oncology Drug in a $65 Million Deal

Nov. 6, 2017

Eutilex Co. Ltd. has entered into a strategic partnership with China’s fast-growing Zhejiang Huahai Pharmaceutical Ltd.

According to the agreement, Huahai takes a $30 million equity stake in Eutilex and receives an exclusive license to develop and commercialize EU-101, a humanized monoclonal antibody developed by Eutilex for cancer treatment, in the People’s Republic of China, Taiwan, Hong Kong and Macau.

In early preclinical studies, EU-101 has demonstrated efficacy against tumors by activating essential parts of the immune system.

Eutilex will be eligible for milestone payments up to $35 million for 10 approved immuno-oncology indications, as well as for royalties from future Huahai sales.

Huahai will be eligible to participate in Eutilex’s worldwide licensing revenues and will receive royalties from Eutilex’s EU-101 global sales.