Eli Lilly: extends agreement with China's Innovent
(CercleFinance.com) - Eli Lilly announced on Tuesday that it signed a licence agreement with its Chinese partner Innovent Biologics in the development of their TYVYT common immunotherapy.
Both biopharmaceutical groups started marketing TYVYT together in China last year in the treatment of rebel or recurring Hodgkin lymphoma.
Under their new agreement, Lilly will obtain a licence for the marketing of monoclonal antibodies outside China, particularly in the US.
Innovent will receive an upfront payment of 200 million dollars, which could amount to an additional 825 million dollars, depending on certain commercial milestones being met, as well as royalties on product sales.
Both laboratories also say that they want to explore TYVYT's potential in lung cancer and other types of cancer.
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