Innovent and Lilly Form Major Cancer Biologics Collaboration

Innovent Biologics, a four-year-old Suzhou biopharma, announced a very broad ten-year cross-border collaboration with Eli Lilly that includes as many as six potential biologic cancer treatments. Lilly will make a $56 million upfront payment, with milestones for a single immuno-oncology drug candidate totaling $400 million. Further financial details were not disclosed. For Lilly, Innovent is a prize China collaboration. In its short four-year history, Innovent has built a $140 million facility (underwritten by Suzhou's BioBay Park) that is compliant with US/EU/China standards and raised $100 million in venture capital earlier this year. The company has developed a portfolio of ten biologic drug candidates, a combination of novel molecules and biosimilars. More details.... Stock Symbol: (NYSE: LLY) Share this with colleagues: // //