AsianScientist (Mar. 27, 2015) – Eli Lilly and Company and Innovent Biologics, Inc. have entered a drug development collaboration, one of the largest such agreements in China to date. Under the terms of the agreement, Lilly and Innovent will collaborate to support the development and potential commercialization of at least three cancer treatments over the next decade.
As a part of the agreement, Innovent will lead the development and manufacturing for the China market, while Lilly will be responsible for commercialization of the three potential medicines. Innovent also has co-promotion rights.
The deal includes Lilly’s cMet monoclonal antibody gene for the possible treatment of non-small cell lunch cancer and Innovent’s monoclonal antibody targeting CD20 for investigation in hematologic malignancies.
Innovent will contribute a pre-clinical immuno-oncology molecule for development in China while Lilly will be responsible for development, manufacturing and commercialization of this molecule outside of China. Lilly will also receive rights to develop and commercialize up to three pre-clinical bispecific immuno-oncology molecules outside of China.
Under the terms of the agreement, Innovent will receive a total upfront payment of US$56 million. Lilly could also issue future payments exceeding Us$400 million for the pre-clinical immuno-oncology molecule if the product reaches certain development, regulatory and sales milestones. Sales royalties and other payments would occur on certain products if commercialized. Further financial terms were not disclosed.
“This alliance marks an important milestone in our longstanding commitment to China and further reinforces our focus to develop collaborative networks to advance research and clinical development in emerging markets,” said Mr. Alfonso Zulueta, senior vice president, and president, Lilly Emerging Markets.
Dr. Michael Yu, co-founder, president and CEO of Innovent, stated, “This collaboration establishes Innovent as the very first company in China to form such a broad alliance with a global pharmaceutical company, and we are honored to collaborate with a company as esteemed as Lilly.”
Source: Eli Lilly.
Disclaimer: This article does not necessarily reflect the views of AsianScientist or its staff.