With Takeda deal, Innovent takes giant step toward global innovation

Innovent has long sought to evolve from an oncology leader in China to a global innovator. A deal with Takeda on Wednesday around three products represents a giant step toward fulfilling those aspirations.

Innovent Biologics Inc. (HKEX:1801) will receive $1.2 billion up front in a deal with Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) that will allow it to build its presence in the U.S. as a co-commercialization partner for bispecific antibody IBI363. Takeda will also receive a license in most global territories for one antibody-drug conjugate in Innovent’s pipeline, as well as an option to another ADC. ...