Huadong Medicine completes equity investment in Heidelberg Pharma

A worker operates at the workshop of a pharmaceutical company in Shijiazhuang, north China's Hebei Province, Jan. 14, 2022. (Xinhua/Yang Shiyao)

Chinese pharmaceutical firm Huadong Medicine Co., Ltd. (Huadong Medicine, 000963.SZ) announced on Wednesday that its wholly-owned subsidiary Huadong Medicine Investment Holding (Hong Kong) Limited has finished the equity investment in Heidelberg Pharma in Germany on Tuesday and become the second largest shareholder of the company with 35 percent of its equity.

Heidelberg Pharma is a global biopharmaceutical company focusing on the research and development of tumor ADC (Antibody-Drug Conjugates).

On February 27 this year, Huadong Medicine and Heidelberg Pharma signed an equity investment agreement and an exclusive license of products agreement, according to which Huadong Medicine will pay 105 million euros for 35 percent of the stakes of Heidelberg Pharma and obtain exclusive licenses over some of Heidelberg Pharma's products that are under research.

The cooperation with Heidelberg Pharma will help Huadong Medicine enrich its innovative product lines in the tumor field and make in-depth layout in the ADC area, said the company.