Chinese API Maker Huahai Leaps Into IO Via Korean Startup

07 Sep 2017

A frenzy for innovation has more Chinese companies armed with cash shopping for new assets. Huahai is the latest to jump onboard the increasingly competitive immuno-oncology field.

3d illustration of T cells or cancer cells — T Cells

Chinese active pharmaceutical ingredients (API) manufacturer Zhejiang Huahai Pharmaceuticals Co. Ltd. has agreed to invest $30m for a significant stake in the Korean biotech startup Eutilex, plus an additional $8.5m to obtain exclusive rights to Eutilex's immuno-oncology asset EU101, currently in the preclinical stage.

In a regulatory filing with the Shanghai Stock Exchange, Huahai said it plans to invest $30m in cash and acquire an 18.75% stake in the two-year biotech venture, becoming the...

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