There is a new strategic collaboration to advance novel medicines in oncology and immunology.
This agreement marks the seventh collaboration between the two companies, Eli Lilly and Innovent Biologics, a world-class biopharmaceutical company that develops, manufactures, and commercialises high-quality medicines for the treatment of oncologic, autoimmune, cardiovascular and metabolic, ophthalmologic, and other major diseases.
The announcement grows enhances a longstanding and productive partnership to deliver new medicines for patients worldwide. The collaboration’s unique structure also establishes a new model for Innovent to accelerate the global development of its innovative pipeline.
Under the collaboration, the companies will leverage their complementary strengths to accelerate global development of novel medicines.
Innovent, drawing on its robust antibody technology platforms and efficient clinical execution, will lead the development of programs from concept through clinical proof-of-concept (phase 2 clinical trial completion) in China.
The agreement grants Lilly an exclusive license to develop and commercialize the programs worldwide outside Greater China, while Innovent retains rights in Greater China.
Under the terms of the agreement, Innovent will receive a $350 million upfront payment and is eligible to receive development, regulatory and commercial milestone payments totalling up to approximately $8.5 billion contingent upon the achievement of certain future events. Additionally, Innovent will be eligible for tiered royalties on net sales of each product outside of Greater China.
