INNOCARE (09969.HK): Lilly Licensing Deal Worth Up to US$3.25B
- The Company entered into a strategic research collaboration and license agreement with Eli Lilly and Company, a leading global pharmaceutical company, to develop new medicines; it will leverage its proprietary drug discovery platform and extensive research experience to discover and advance compounds against up to five targets to address critical unmet medical needs.
- Under the Agreement, the Company is eligible to receive up to US$100 million in upfront and near-term payments and up to approximately US$3.25 billion in development and commercial milestone payments, each subject to applicable conditions and the achievement of relevant milestones, plus single-digit tiered royalties based on annual net product sales.
NewTimeSpace News: On 24 September 2026, InnoCare Pharma Limited (stock code: 09969.HK) announced, pursuant to Rule 13.09(2)(a) of the Listing Rules and the inside information provision under Part XIVA of the Securities and Futures Ordinance, that it has entered into a strategic research collaboration and license agreement with Eli Lilly and Company ("Lilly"), a leading global pharmaceutical company, to develop new medicines.
Pursuant to the Agreement, the Company will leverage its proprietary drug discovery platform and extensive research experience to discover and advance compounds against up to five targets to address critical unmet medical needs. Under the terms of the Agreement, the Company will be eligible to receive up to US$100 million in upfront and near-term payments and up to approximately US$3.25 billion in development and commercial milestone payments, in each case subject to applicable conditions and the achievement of relevant milestones. In addition, the Company will be eligible to receive single-digit tiered royalties based on annual net product sales.
The Company also made a cautionary statement as required by Rule 18A.08(3), stating that there is no assurance that the Company will ultimately develop, market and/or commercialize any products arising from this collaboration successfully, and shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.
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