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InnoCare and Eli Lilly sign cancer drug R&D licensing deal worth up to $3.35B
The partnership lets InnoCare use its drug discovery platform to pursue compounds against up to five targets.
Chinese biotech deal making is shifting beyond licensing individual drug candidates as the country works to become a broader global innovation leader, analysts say, and a new transaction highlights the trend.
SCMP Economy reports that Beijing-based cancer drug developer InnoCare Pharma said it entered a strategic research collaboration and licensing agreement with US pharmaceutical giant Eli Lilly that could be worth up to US$3.35 billion.
InnoCare said it will use its drug discovery platform to identify and advance compounds against up to five targets, while the companies did not disclose the specific therapeutic areas covered by the partnership.
The firms said the new drugs would seek to address critical unmet medical needs, without further details on targets or indications.