InnoCare Pharma Limited (9969.HK) revealed on Thursday that it has entered into a strategic research collaboration and license agreement with Eli Lilly and Company to develop new medicines.
Under the agreement, InnoCare will leverage its proprietary drug discovery platform and research capabilities to discover and advance compounds against up to five targets addressing unmet medical needs.
Within the terms, the company is eligible to receive up to $100 million in upfront and near-term payments and up to approximately $3.25 billion in development and commercial milestone payments.
InnoCare will also be eligible for single-digit tiered royalties based on annual net product sales.
InnoCare Co-founder, Chairwoman, and CEO, Jasmine Cui said that, the collaboration will leverage the company's R&D platform and research experience alongside Lilly's global pharmaceutical capabilities.
The company did not disclose the specific targets or compounds covered by the agreement.
Company Profile
InnoCare is a commercial-stage biopharmaceutical company focused on developing and commercializing medicines for cancer and autoimmune diseases. Its pipeline includes three approved drugs - orelabrutinib, t...