Zhejiang Huahai Pharma acquired Greater China rights to EU-101, a preclinical immuno-oncology candidate discovered by Eutilex of South Korea, in a $65 million agreement. Huahai made a $30 million equity investment into Eutilex, and it will pay up to $35 million in milestones on 10 immuno-oncology indications. Eutilex will also receive royalties on China sales. In an unusual provision, Huahai will gain from Eutilex’s out-licensing revenues of EU-101, and it will receive royalties on ex-China sales.
Source: China Biotoday
