Continuing its dealmaking streak in the new year, Eli Lilly on Sunday tapped Innovent Biologics to develop oncology and immunology drugs. It's at least the US pharma's seventh deal so far in 2026, as well as its seventh collaboration with the China-based firm.
Under the partners' latest tie-up, Innovent will receive $350 million upfront to take the therapeutic candidates through Phase II testing in China; Lilly holds exclusive rights to each programme outside the country. Innovent could pocket up to $8.5 billion in development, regulatory and commercial milestones, plus tiered royalties on ex-China sales.
"This alliance moves beyond traditional licensing to create a seamless, end-to-end innovation ecosystem that combines our agile discovery and early-stage development engine with Lilly's extensive global scale and creates a highly efficient model for cross-border synergy," said Michael Yu, Innovent's founder, chairman and CEO.
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