Eli Lilly has entered a strategic research collaboration and licensing agreement with China-based InnoCare Pharma.
Lilly will provide up to $100 million in upfront and near-term payments.
The deal could generate approximately $3.25 billion in development and commercial milestones, bringing its potential total value to about $3.35 billion.
InnoCare will use its drug-discovery platform to discover and advance compounds against as many as five undisclosed targets.
The companies have not revealed the specific diseases, targets, or drug modalities, saying only that they address critical unmet medical needs.
InnoCare is also eligible for tiered, single-digit royalties on annual net sales of any resulting products.
The large backend value depends on successful research, clinical development, regulatory approval, and commercialization; the final payout is therefore uncertain.
Sources:
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