Innovent Biologics closes $11.4 billion partnership with Takeda

Innovent Biologics (HKEX: 01801) announced the completion of its global strategic collaboration with Takeda (TSE: 4502, NYSE: TAK) for the development and commercialization of next-generation cancer therapies. The partnership, initially announced in October, became effective after satisfying all closing conditions.

Under the agreement, Takeda will pay Innovent an upfront payment of $1.2 billion, including a $100 million equity investment through new share issuance at HK$112.56 per share. Innovent is eligible for additional development and sales milestone payments totaling up to approximately $10.2 billion, bringing the total deal value to $11.4 billion.

The collaboration covers three therapeutic programs. For IBI363, a PD-1/IL-2α-bias therapy, the companies will co-develop globally and co-commercialize in the U.S., with Takeda leading efforts under joint governance. Takeda receives exclusive commercialization rights for IBI363 outside Greater China and the U.S. Innovent has granted Takeda exclusive global rights to develop, manufacture and commercialize IBI343, a CLDN18.2 antibody-drug conjugate, outside of Greater China.

Takeda also receives an exclusive option to license global rights for IBI3001, an EGFR/B7H3 bispecific antibody-drug conjugate currently in Phase 1 trials, outside Greater China.

Innovent is eligible to receive royalty payments for each molecule outside Greater China, except for IBI363 in the U.S., where the parties will share profits or losses in a 40/60 split between Innovent and Takeda.

"IBI363 and IBI343 represent our next-generation therapies designed to address critical unmet needs in global cancer treatment," stated Dr. Hui Zhou, Chief R&D Officer for Oncology Pipeline at Innovent.

The information is based on a company press release statement.

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