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InnoCare Signs Licensing Deal with Eli Lilly, Potential Milestones Up to $3.25 Billion
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InnoCare Pharma announced on September 24 that its wholly-owned subsidiary, Beijing InnoCare Pharma Tech, has entered into a research collaboration and licensing agreement with Eli Lilly and Company. The partnership focuses on strategic cooperation in innovative drug research and development, leveraging InnoCare's proprietary drug discovery platform to identify and develop up to five novel target projects addressing significant unmet clinical needs. Under the terms, Eli Lilly will pay InnoCare up to $100 million in upfront and near-term milestone payments. The total potential research, development, and commercialization milestone payments could reach approximately $3.25 billion. Additionally, InnoCare is entitled to receive tiered royalties at a single-digit percentage rate on annual net sales of licensed products.
Source report
September 24 – InnoCare Pharma (HKEX: 9969) announced today that its wholly-owned subsidiary, Beijing InnoCare Pharma Tech Co., Ltd., has entered into a research collaboration and license agreement with Eli Lilly and Company.
Under the agreement, the two companies will engage in strategic cooperation in the field of innovative drug research and development. InnoCare will leverage its proprietary drug discovery platform and extensive research expertise to identify and develop up to five innovative target programs aimed at addressing significant unmet clinical needs.
Key Financial Terms:
- Upfront and near-term milestone payments: Eli Lilly will pay InnoCare up to $100 million
- Potential development and commercialization milestone payments: Approximately $3.25 billion in total
- Royalties: InnoCare is entitled to receive tiered, single-digit percentage royalties based on annual net sales of licensed products
Source
金十数据Neutral / independent
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InnoCare Pharma shares swing after $3.25B licensing deal with Eli Lilly