Shares of Innovent Biologics (1801.HK) jump 8.6% to HK$86.3, set for its biggest one-day pct gain since September 1 Innovent has struck a new deal with Eli Lilly (LLY.N) to develop immunology and oncology drugs, under which the U.S. drugmaker will pay $350 mln upfront and as much as $8.5 bln more if milestones are metYTD, stock up 11.3%, Hang Seng Biotech Index (.HSBIO) up 9.5%

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Shares of Innovent Biologicsjump 8.6% to HK$86.3, set for its biggest one-day pct gain since September 1 Innovent has struck a new deal with Eli Lillyto develop immunology and oncology drugs, under which the U.S. drugmaker will pay $350 mln upfront and as much as $8.5 bln more if milestones are metYTD, stock up 11.3%, Hang Seng Biotech Index (.HSBIO) up 9.5%

- Innovative Biologics (1801.HK) shares rose by 8.6% to HK$86.3, marking the largest single-day percentage increase since September 1.  
- This increase follows a new agreement with Eli Lilly (LLY.N) for the joint development of immunology and oncology drugs, which includes a US$350 million upfront payment and potential milestone payments up to US$8.5 billion.  
- Currently, the stock has increased by 11.3%, while the Hang Seng Biotechnology Index (.HSBIO) has risen by 9.5%.

Reuters

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BUZZ-Innovent Biologics jumps most in five months on Eli Lilly deal