Pharma BD Deal Intelligence
Innovent Biologics announced a strategic collaboration with Eli Lilly to develop novel oncology and immunology medicines globally, the seventh collaboration between the two companies. Lilly pays USD 350 million upfront and Innovent is eligible for up to approximately USD 8.5 billion in development, regulatory and commercial milestones plus tiered royalties on net sales outside Greater China. Innovent leads development through completion of Phase 2 in China and retains Greater China rights, while Lilly holds an exclusive license for development and commercialization in the rest of the world.