Chinese pharmaceutical company enters strategic partnership with German Heidelberg Pharma

BEIJING, Feb. 28 (Xinhua) -- Chinese pharmaceutical company Huadong Medicine Co., Ltd. (Huadong Medicine, 000963.SZ) has forged a strategic partnership with German-based biopharmaceutical firm Heidelberg Pharma AG (Heidelberg Pharma) with the signing of an equity investment agreement and an exclusive licensing agreement, according to Huadong Medicine's filing to the Shenzhen Stock Exchange on Monday.

Huadong Medicine will make an equity investment totaling 105 million euros in Heidelberg Pharma, including a string of capital arrangements, to eventually obtain 35 percent of the total shares of Heidelberg Pharma, becoming the second largest shareholder of the German company, the company filing shows. 

According to the exclusive licensing agreement, Heidelberg Pharma will grant Hangzhou Zhongmeihuadong Pharmaceutical Co., another wholly-owned subsidiary of Huadong Medicine, the exclusive license to develop and commercialize HDP-101 (for multiple myeloma) and HDP-103 (for metastatic castration-resistant prostate cancer) in 20 countries and regions in Asia, including the Chinese mainland, Hong Kong, Macao, Taiwan, the Republic of Korea, and Singapore.

Huadong Medicine was founded in 1993. Its product portfolio and pipeline are specialized in oncology, immunology, nephrology, and diabetes.