EQRx Raises $500 Million to Develop China-Sourced Drugs for US Market

EQRx, a Cambridge , MA biopharma that aims to lower US drug prices for expensive medications by 50%-70%, completed a $500 million Series B funding. Three of EQRx's four drug candidates are from China pharmas: CStone Pharma out-licensed rights for its anti-PD1 and anti-PD-L1 inhibitors to EQRx for $150 million upfront and up to $1.2 million in milestones. Hansoh Pharma out-licensed its EGFR inhibitor to EQRx for $100 million upfront plus unspecified milestone and royalty payments. The Series B included the same investors as the $250 million EQRx Series A round. More details.... Share this with colleagues: // //