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BRIEF-Zhejiang Huahai Pharmaceutical to use $30 mln to acquire shares of Eutilex
September 5, 2017 / 8:15 AM / 18 days ago

BRIEF-Zhejiang Huahai Pharmaceutical to use $30 mln to acquire shares of Eutilex

Sept 5(Reuters) - Zhejiang Huahai Pharmaceutical Co Ltd

* Says co signs agreement to invest $30 million in Eutilex Co.,Ltd, which is mainly engaged in R&D of T cell therapy and antibody therapy products

* Says co will hold 18.8 percent stake (1.2 million shares) in Eutilex after investment, up from 0 percent

* Says Eutilex plans to grant the co an exclusive right in China regarding EU101 and co will pay up to $8.5 million to Eutilex via upfront and milestones payments

Source text in Chinese: goo.gl/VNB5RM

Further company coverage: (Beijing Headline News)

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