Innovent Biologics announced that the global strategic collaboration with Takeda has closed and become effective following the satisfaction of all closing conditions. The collaboration, initially announced on October 22, 2025, aims to accelerate the global development and commercialization of Innovent's next-generation immuno-oncology (IO) and antibody-drug conjugate (ADC) therapies, including the global partnership on IBI363 (PD-1/IL-2a-bias) and IBI343 (CLDN18.2 ADC), and an option for an early-stage program IBI3001 (EGFR/B7H3 ADC). Under the agreement: Innovent and Takeda will co-develop IBI363 globally, and co-commercialize IBI363 in the U.S., with Takeda leading the co-development and co-commercialization efforts under joint governance and aligned development plan.
In addition, Innovent has granted Takeda exclusive commercialization rights for IBI363 outside Greater China and the U.S. Takeda has global manufacturing rights to supply IBI363 outside of Greater China, with such rights being co-exclusive with Innovent for commercial supply in the U.S. Innovent has also granted Takeda exclusive global rights to develop, manufacture and commercialize IBI343 outside Greater China. Additionally, Takeda receives an exclusive option to license global rights for IBI3001, a first-in-class EBIFR/B7H3 bispecific ADC in Phase 1 stage, outside Greater China. Takeda will pay Innovent an upfront payment of USD 1.2 billion, including a USD 100 million equity investment in Innovent through new share issuance at premium, i.e., HKD 112.56 per share.
Furthermore, Innovent is eligible for development and sales milestone payments for IBI363, IBI343, and IBI3001 (if option exercised) totaling up to approximately $10.2 billion, for a total deal value of up to $11.4 billion. Innovent is also eligible to receive potential royalty payments for each molecule outside Greater China, except with respect to IBI363 in theU.S., where the parties will share profits or losses (40/60 Innovent/Takeda).
