Eli Lilly and China’s InnoCare Pharma have signed a strategic research collaboration and licensing agreement valued at up to about $3.35 billion.
InnoCare will receive up to $100 million in upfront and near-term payments, plus about $3.25 billion in potential development and commercial milestone payments.
The deal also includes tiered single-digit royalties on future product sales if the collaboration succeeds.
InnoCare will use its drug-discovery platform to identify and advance compounds against up to five targets.
Specific disease areas and targets were not disclosed, and the final payout depends on meeting conditions and milestones.
Sources:
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