Eli Lilly and InnoCare Pharma, a biopharmaceutical company focusing on the treatment of cancer and autoimmune diseases, have entered into a strategic research collaboration and license agreement to develop new medicines.
InnoCare will leverage its proprietary drug discovery platform and extensive research experience to discover and advance compounds against up to five targets to address critical unmet medical needs.
Under the terms of the agreement, InnoCare will be eligible to receive up to $100m in upfront and near-term payments, and up to approximately $3.25bn in development and commercial milestone payments. In addition, InnoCare will be eligible to receive single-digit tiered royalties based on annual net product sales.
InnoCare is focused on discovering, developing and commercialising innovative drugs for the treatment of cancers and autoimmune diseases, two therapeutic areas with unmet medical needs worldwide. The company has developed a product pipeline comprising three approved drugs (orelabrutinib, tafasitamab and zurletrectinib), more than ten innovative drug candidates in clinical development, and multiple programmes in preclinical stages.
“We are excited to leverage our R&D platform to collaborate with a global pharmaceutical leader like Lilly,” said Jasmine Cui, Co-founder, Chairwoman and CEO of InnoCare. “We are dedicated to expanding our partnership and innovation footprint.”