Innovent Biologics and Eli Lilly Announce Global Oncology and Immunology Collaboration
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Innovent Biologics Inc. has formed a strategic collaboration with Eli Lilly and Company to develop new medicines in oncology and immunology. This partnership, the seventh between the two firms, will see Innovent lead early-stage development in China, while Lilly will handle commercialization outside Greater China. Innovent will receive a $350 million upfront payment and could earn up to $8.5 billion in milestone payments, plus tiered royalties on sales outside the region.
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