Takeda and Innovent Biologics Collaborate on Oncology Therapies Globally

Takeda and Innovent Biologics have signed a global oncology collaboration to advance the development, manufacturing, and commercialization of two late-stage cancer therapies, IBI363 and IBI343, outside of Greater China. The deal also grants Takeda an option to license IBI3001, an early-stage investigational cancer medicine. Innovent will receive a $1.2 billion upfront payment, and both companies will share profits or losses in the US.

Takeda Pharmaceutical Company Limited (TSE: 4502, NYSE: TAK) and Innovent Biologics (HKEX: 01801) have entered into a strategic global oncology collaboration to advance the development, manufacturing, and commercialization of two late-stage cancer therapies, IBI363 and IBI343, outside of Greater China. The deal also grants Takeda an option to license IBI3001, an early-stage investigational cancer medicine. Innovent will receive a $1.2 billion upfront payment, and both companies will share profits or losses in the U.S. Innovent Biologics Announces Global Strategic Partnership with Takeda to Bring Innovent's Next Gen IO Backbone Therapy and ADC Molecules to the Global Market^[1]

The collaboration combines Innovent's proven immuno-oncology (IO) and antibody-drug conjugate (ADC) R&D capability with Takeda's experience in global oncology drug development. The partnership aims to accelerate the global development of several investigational medicines within Innovent's IO+ADC pipeline, including IBI363, IBI343, and IBI3001. IBI363 and IBI343 are currently in Phase 3 clinical trials, while IBI3001 is in Phase 1. Innovent Biologics Announces Global Strategic Partnership with Takeda to Bring Innovent's Next Gen IO Backbone Therapy and ADC Molecules to the Global Market^[1]

Under the agreement, Takeda will receive exclusive commercialization rights for IBI363 outside Greater China and the U.S., and Innovent will grant Takeda an exclusive option for IBI3001 outside Greater China. The companies will co-develop IBI363 globally and co-commercialize it in the U.S., where Takeda will lead the co-development and co-commercialization efforts under joint governance and aligned development plans. Takeda will also have global manufacturing rights to supply IBI363 outside Greater China. Innovent Biologics Announces Global Strategic Partnership with Takeda to Bring Innovent's Next Gen IO Backbone Therapy and ADC Molecules to the Global Market^[1]

Innovent will receive a US$1.2 billion upfront payment, including a strategic equity investment of US$100 million at a premium, and potential milestone payments for a total deal value of up to US$11.4 billion. The companies will share profits or losses in the U.S., and Innovent will receive tiered royalties on net sales outside Greater China and the U.S. Innovent Biologics Announces Global Strategic Partnership with Takeda to Bring Innovent's Next Gen IO Backbone Therapy and ADC Molecules to the Global Market^[1]

The collaboration aims to explore and maximize the potential of IBI363 and IBI343 as transformative cancer treatments. IBI363, a first-in-class PD-1/IL-2α-biased bispecific antibody fusion protein, has demonstrated robust anti-tumor activity and a favorable safety profile. IBI343, an innovative TOPO1 inhibitor ADC targeting CLDN18.2, has shown encouraging efficacy signals in gastric/gastroesophageal cancers and pancreatic ductal adenocarcinoma. Innovent Biologics Announces Global Strategic Partnership with Takeda to Bring Innovent's Next Gen IO Backbone Therapy and ADC Molecules to the Global Market^[1]

Takeda and Innovent plan to expand the clinical development of IBI363 to additional indications and advance the development of IBI343 into first-line gastric and pancreatic cancer settings. If Takeda exercises the option to license IBI3001, it will pay Innovent an exercise fee, potential milestone payments, and tiered royalties on net sales up to mid-teens. Innovent Biologics Announces Global Strategic Partnership with Takeda to Bring Innovent's Next Gen IO Backbone Therapy and ADC Molecules to the Global Market^[1]

The collaboration is a significant step for both companies, leveraging their respective strengths to accelerate the delivery of promising cancer medicines to patients worldwide. Innovent, a leading biopharmaceutical company, has launched 16 products and has several new drug applications under regulatory review. Takeda, a global pharmaceutical company, is committed to delivering innovative medicines that improve the lives of people with cancer. Innovent Biologics Announces Global Strategic Partnership with Takeda to Bring Innovent's Next Gen IO Backbone Therapy and ADC Molecules to the Global Market^[1]