InnoCare, Eli Lilly Sign Drug Discovery Deal With Up to $325 Million in Milestones

InnoCare Pharma Limited (9969.HK) said Thursday it entered a strategic research collaboration and license agreement with Eli Lilly and Company to develop new medicines. The deal includes up to $325 million in milestone payments tied to development and commercial progress. Under the agreement, the companies will jointly conduct research aimed at discovering and advancing drug candidates, with Lilly expected to contribute development and commercialization resources. Financial terms beyond the milestone structure were not disclosed. InnoCare shares trade on the Hong Kong Stock Exchange. Lilly is listed on the New York Stock Exchange under the ticker LLY.