TSX gains after CPI shows US inflation rose 3%
Investing.com -- Takeda has entered into an out-licensing agreement with Innovent for three cancer drug candidates in a deal worth up to $11.4 billion, the companies announced Wednesday.
The agreement includes IBI363 (PD-1/IL-2αbias), IBI343 (CLDN18.2 ADC), and an option for early-stage asset IBI3001 (EGFR/B7H3 ADC).
Under the terms of the deal, Innovent will receive $1.1 billion in upfront cash payment and $100 million in equity investment from Takeda. The agreement also includes potential milestone payments of up to $10.2 billion.
Innovent management stated they will co-develop IBI363 (PD-1/IL-2) with Takeda and utilize Takeda’s R&D team, which consists of 4,500 people, to accelerate global market exploration and strengthen Innovent’s overseas R&D capabilities.
During the announcement, Innovent management reaffirmed the company’s revenue target of 20 billion yuan by 2027.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.