Eli Lilly and Company and Innovent Biologics, Inc., announced one of the largest biotech drug development collaborations in China thus far today in Beijing. Under the agreement, Lilly and Innovent will collaborate to develop and potentially commercialize at least three cancer treatments over the next decade.
The agreement creates possible new treatment options for cancer patients, while at the same time increasing the presence of both companies in the Chinese oncology market. Innovent will lead the development and manufacturing for the Chinese market, while Lilly will be responsible for commercialization. Innovent also has co-promotion rights.
“We are pleased to collaborate with Innovent to develop potential therapies for those fighting cancer in China and around the world,” stated Alfonso Zulueta of Lilly. “This alliance marks an important milestone in our longstanding commitment to China, and further reinforces our focus to develop collaborative networks to advance research and clinical development in emerging markets.”
Lilly has a thriving oncology research department that is studying a wide range of cancers including breast, colorectal, liver and non-small cell lung.
Source: Eli Lilly