Overview
Frankfurt, May 27, 2026 — McDermott Will & Schulte advised Spanish biopharmaceutical company Almirall, S.A. on entering into a collaboration with Chinese company Huaota Biopharmaceutical Co., Ltd., a subsidiary of Zhejiang Huahai Pharmaceutical Co., Ltd., for the development of a novel monoclonal antibody for medical dermatology.
The collaboration focuses on a joint R&D program for a monoclonal antibody candidate. Huaota will lead early-stage research activities and the initial phases of clinical development and will receive development and commercialization rights for China. Almirall retains worldwide development and commercialization rights outside of China.
Total payments from Almirall to Huaota could amount to up to $340 million, including upfront and milestone payments tied to the success of development and commercialization, as well as tiered royalties on future net sales. Huaota will pay Almirall tiered royalties based on potential future sales of the product in China.
Publicly traded Almirall, headquartered in Barcelona, is a global pharmaceutical company dedicated to medical dermatology. With more than 2,100 employees worldwide, the company generated total revenue of over €1.1 billion in 2025.
The McDermott team advising Almirall was led by partner Monika Richter.
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