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.