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flag Innovent and Takeda agree to a $11.4B deal to co-develop two cancer drugs, with Takeda leading global development outside the U.S. and Greater China.

flag Innovent Biologics has struck a $11.4 billion deal with Takeda Pharmaceutical to co-develop two late-stage cancer drugs, IBI363 and IBI343, targeting non-small cell lung cancer, colorectal cancer, gastric cancer, and pancreatic cancer. flag Takeda will lead global development outside Greater China and the U.S., where Innovent retains rights, and will pay $1.2 billion upfront, up to $10.2 billion in milestones, and a $100 million investment. flag The collaboration marks a major expansion for Innovent and reflects growing international confidence in China’s biotech industry.

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