Last week, Takeda announced that it has entered into a worldwide license and collaboration agreement (outside of Greater China) with Innovent Biologics for the development, manufacture, and commercialization of two late-stage oncology medicines, IBI363 and IBI343. According to Takeda, IBI363, a PD-1/IL-2α-bias bispecific antibody fusion protein, is being evaluated in non-small cell lung and colorectal cancers and has shown potential efficacy in additional solid tumor types. IBI343, an antibody-drug conjugate that targets the Claudin 18.2 protein, is being evaluated in gastric and pancreatic cancers.
Upon closing, Innovent Biologics will receive a $1.2 billion upfront payment, which includes an equity investment of $100 million. Innovent Biologics will also be eligible for potential milestones and royalty payments. Under the terms of the agreement, Takeda will lead co-commercialization efforts of IBI363 in the U.S. and will have the exclusive right to commercialize IBI363 outside of the U.S. and Greater China; Takeda will have global manufacturing rights to supply IBI363 outside of Greater China, and co-exclusive rights with Innovent Biologics for commercial supply in the U.S. Takeda will develop, manufacture, and commercialize IBI343 worldwide, outside of Greater China.