China's InnoCare, Eli Lilly sign collaboration deal worth up to $3.35 billion
LLY•Deal terms and research scope
- InnoCare would receive up to $100 million in upfront and near-term payments and about $3.25 billion in development and commercial milestone payments, plus tiered, single-digit royalties on future annual net product sales.
- The Beijing-based firm said it would develop new medicines leveraging its drug discovery platform to discover and advance compounds against up to five targets, as part of the deal.
- InnoCare specialises in drugs for the treatment of cancer and autoimmune diseases.
- A spokesperson for Eli Lilly did not immediately respond to a request for comment on what specific disease areas would be targeted in the collaboration.
Collaboration and licensing agreement
Sept. 24 (Reuters) - Chinese drugmaker InnoCare Pharma 688428.SS said on Thursday it had entered into a research collaboration and licensing agreement with Eli Lilly LLY.N worth up to about $3.35 billion.
Here are some more details:
