Eli Lilly, InnoCare Sign Deal That Could Top $3 Billion
By Fabiana Negrin Ochoa
China-based biopharmaceutical company InnoCare Pharma has signed a research and license agreement with Eli Lilly that could be valued at more than $3 billion.
InnoCare, a specialist in cancer and autoimmune diseases, will use its proprietary drug-discovery platform to develop new medicines with the U.S. pharma giant.
Under the terms of the Thursday agreement, InnoCare will be eligible for up to $100 million in upfront and near-term payments, and as much as $3.25 billion in development and commercial milestone fees.
It can also receive single-digit tiered royalties based on product sales. The collaboration will initially focus on discovering and advancing compounds against up to five targets to address critical unmet needs.
The announcement is the latest in a string of deals by multinational companies looking to tap the innovation of biopharma companies in Hong Kong and China.
Earlier this year, Lilly sealed a deal with Innovent Biologics with a potential value of about $8.8 billion, and another with Haisco Pharmaceutical valued at as much as $3.05 billion.
Write to Fabiana Negrin Ochoa at fabiana.negrinochoa@wsj.com
(END) Dow Jones Newswires
September 24, 2026 01:09 ET (05:09 GMT)
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