Sept 24 (Reuters) – Chinese drugmaker InnoCare Pharma said on Thursday it had entered into a research collaboration and licensing agreement with Eli Lilly worth up to about $3.35 billion.
Here are some more details:
• InnoCare would receive up to $100 million in upfront and near-term payments and about $3.25 billion in development and commercial milestone payments, plus tiered, single-digit royalties on future annual net product sales.
• The Beijing-based firm said it would develop new medicines leveraging its drug discovery platform to discover and advance compounds against up to five targets, as part of the deal.
• InnoCare specialises in drugs for the treatment of cancer and autoimmune diseases.
• A spokesperson for Eli Lilly did not immediately respond to a request for comment on what specific disease areas would be targeted in the collaboration.
(Reporting by Aamir Shaik Khalid in Bengaluru, Additional reporting by Andrew Silver in Shanghai; Editing by Subhranshu Sahu)
