Eutilex Co. Ltd. has entered a strategic partnership with Zhejiang Huahai Pharmaceutical Ltd., both based in China, to accelerate Eutilex’s antibody and anti-tumor T cell therapy development programs.
 
Under the agreement, Huahai will take a $30 million equity stake in Eutilex and in return will receive an exclusive license to develop and commercialize EU-101, an antibody developed for cancer treatment.
 
Eutilex is eligible to receive milestone payments from Huahai for EU-101 approved immuno-oncology indications. The deal is also expected to further expand Eutilex’s global clinical trials on T cell therapies. Some patients with solid tumors or hematologic cancers who were treated with this therapy went into a period of remission that lasted as long as two-and-a-half years.
 
Dr. Byoung S. Kwon, Eutilex founder and chief executive officer, said, “Huahai is bringing strong technical, production and R&D skills to its partnership with us.”  
 
Dr. Baohua Chen, Huahai Chairman, added, “With multiple immune-oncology assets and compelling safety and efficacy data, Eutilex is a very attractive partner.” 
 
The agreement brings Huahai’s total investment in Eutilex from various sources to $58.7 million since the company’s founding in 2015.