VUB spin-off eTheRNA immunotherapies NV today announced it has entered into a strategic cooperation and product license agreement with China Grand Pharmaceutical & Healthcare Holdings Ltd to establish a new joint venture company, Nanjing AuroRNA Biotech Co., Ltd. (“AuroRNA Biotech”) in Mainland China to deploy eTheRNA’s proprietary mRNA technology for pharmaceutical research and development and production in the Greater China Region.
This follows an undisclosed equity investment by China Grand Pharma in eTheRNA’s Series B financing round earlier in 2020. Initially, China Grand Pharma will invest EUR 8.1 million in AuroRNA Biotech for a 75% equity interest, with eTheRNA holding the remaining equity. eTheRNA will also receive milestone and royalty payments for product developments.