The deal will give Lilly the exclusive overseas license for TYVYT, a medicine that the two sides have jointly developed and commercialized in China for a form of Hodgkin's lymphoma, according to Innovent, based in east China's Jiangsu Province.
Innovent will receive an upfront payment of 200 million U.S. dollars and will be eligible for up to 825 million U.S. dollars in potential development and commercial milestones, as well as tiered double-digit royalties on net sales, the company said.
The Chinese company added that it is currently conducting more than 20 clinical studies with TYVYT to evaluate its safety and efficacy in a wider variety of cancer indications.
"We are confident that pairing Lilly's global commercial expertise with TYVYT's clinical profile will further accelerate our mission to benefit patients globally," said Michael Yu, chairman and CEO of Innovent.
"We believe TYVYT could deliver significant value to people living with cancer around the world and we intend to continue to study its potential across tumor types," said Anne White, president of Lilly Oncology.
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