Zhejiang Huahai Pharmaceutical Co. Ltd., has entered into licensing agreement with Eutilex Co. Ltd. for EU101 in China. Concurrently, Zhejiang Huahai Pharma agreed to acquire 1.2 million shares representing 18.75% stake in Eutilex for a purchase consideration of USD 30 million. Under the agreement, Huahai Pharma will pay to up to USD 8.5 million to Eutilex. Eutilex will share the future sales commission in accordance with the agreed proportion.