--- title: "A down payment of 350 million, totaling 8.5 billion USD! INNOVENT BIO collaborates with Eli Lilly to layout the research and development of new tumor immunotherapy drugs" description: "Innovent Biologics and Eli Lilly have reached a groundbreaking collaboration to jointly develop new oncology and immunology drugs. The upfront payment for this transaction is USD 350 million, with a t" type: "news" locale: "en" url: "https://longbridge.com/en/news/275269682.md" published_at: "2026-02-09T05:52:14.000Z" --- # A down payment of 350 million, totaling 8.5 billion USD! INNOVENT BIO collaborates with Eli Lilly to layout the research and development of new tumor immunotherapy drugs > Innovent Biologics and Eli Lilly have reached a groundbreaking collaboration to jointly develop new oncology and immunology drugs. The upfront payment for this transaction is USD 350 million, with a total amount reaching up to USD 8.5 billion. Both parties have abandoned traditional licensing and adopted a zero-based co-development model, marking a deep recognition of the innovation capabilities of Chinese pharmaceutical companies by top global pharmaceutical firms and opening a new chapter in global strategic collaboration Eli Lilly will pay a $350 million advance to the Chinese biopharmaceutical company INNOVENT BIO, and the two parties will jointly develop new drugs in the fields of oncology and immune diseases, marking further recognition of the innovation capabilities of Chinese pharmaceutical companies by multinational pharmaceutical firms. INNOVENT BIO announced on Sunday that **the company could receive up to $8.5 billion in milestone payments.** This collaboration breaks the traditional drug licensing model—Eli Lilly is not purchasing rights to a specific drug from INNOVENT's existing pipeline, but rather both parties will create new drugs from scratch. The agreement did not disclose the specific number of drugs involved. Boosted by this news, INNOVENT BIO's Hong Kong stock rose by as much as 8.6% on Monday. This transaction represents a new model of collaboration between Chinese biotechnology companies and multinational pharmaceutical firms. In recent years, multinational pharmaceutical companies have continued to introduce drugs under development from Chinese pharmaceutical companies, but this collaboration takes it a step further by establishing a global strategic partnership before the creation of compounds. ## Innovative Collaboration Model Breaks Traditional Licensing Framework Samuel Zhang, Chief Business Officer of INNOVENT BIO, stated during an investor conference call: > "In terms of the nature of the transaction, this means that INNOVENT already has a global strategic partner before creating compounds." INNOVENT BIO stated in the announcement that this agreement marks the company's acceleration of a new collaborative model for global drug development. This is the seventh partnership established between the two parties, with the previous six collaborations involving drugs for cancer, diabetes, and obesity treatment. Last year, INNOVENT also signed licensing agreements with Roche and Takeda Pharmaceutical. According to the terms of the agreement, **INNOVENT BIO will be responsible for drug development work from the concept stage to the completion of Phase II clinical trials in China, utilizing its strong antibody technology platform and efficient clinical execution capabilities. Eli Lilly will receive exclusive rights to develop and commercialize these drugs outside of Greater China, while INNOVENT retains rights in Greater China.** Michael Yu, founder, chairman, and CEO of INNOVENT BIO, stated: > "We are excited to partner with Eli Lilly, a trusted global pharmaceutical partner, to develop new drugs to improve treatment outcomes for patients with cancer and immune diseases. This alliance transcends traditional licensing models, creating a seamless end-to-end innovation ecosystem that combines our flexible discovery and early development engine with Eli Lilly's extensive global scale." In addition to the advance payment, INNOVENT is also eligible for development, regulatory, and commercial milestone payments based on future specific events and will receive tiered royalties on net sales of each product outside of Greater China. ## Chinese Pharmaceutical Companies' Outbound Licensing Transactions Continue to Heat Up A JP Morgan report indicates that **outbound licensing transactions from China to overseas are expected to reach a historic high in 2025, with total advance payments of at least $6 billion and potential transaction values reaching $120 billion.** This momentum continues into the new year, with AstraZeneca recently signing a weight-loss drug agreement with CSPC Pharmaceutical Group worth up to $18.5 billion Innovent Bio has currently launched 16 products in the market, with 2 new drug applications under regulatory review, 4 assets in Phase 3 or pivotal clinical trial stages, and another 15 molecules in early clinical stages. 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