Takeda And Innovent Biologics Sign Global Oncology Collaboration Outside Greater China

Takeda Pharmaceutical

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(RTTNews) - Takeda (TAK) has signed a license and collaboration agreement with Innovent Biologics to advance the development, manufacturing, and commercialization of two late-stage oncology therapies—IBI363 and IBI343—across global markets excluding Greater China. The deal also grants Takeda an exclusive option to license global rights (outside Greater China) for IBI3001, an early-stage investigational cancer medicine.

IBI363 is being evaluated in non-small cell lung and colorectal cancers and has shown potential efficacy in additional solid tumor types. IBI343 is being evaluated in gastric and pancreatic cancers.

IBI343 is a next-generation investigational antibody-drug conjugate (ADC) that targets the Claudin 18.2 protein, which is often expressed in gastric and pancreatic cancer cells.

Takeda and Innovent will co-develop IBI363 globally with a 60/40 (Takeda/Innovent) cost split and co-commercialize it in the U.S. with a 60/40 (Takeda/Innovent) profit or loss split. Takeda will lead co-commercialization efforts 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, with such rights being co-exclusive with Innovent for commercial supply in the U.S.

Under the terms of the agreement, Takeda will develop, manufacture and commercialize IBI343 worldwide, outside of Greater China.

IBI3001 is a potential first-in-class bispecific ADC designed to target both EGFR and B7H3. It is being studied in an ongoing Phase 1 clinical trial in patients with locally advanced or metastatic solid tumors in the U.S., China and Australia.

As part of the deal, Innovent will be solely responsible for clinical development of IBI3001 prior to potential exercise of the option to license. Should Takeda exercise the option, Takeda will develop, manufacture and commercialize IBI3001 worldwide, outside of Greater China.

Innovent will receive a US$1.2 billion upfront payment upon closing of the transaction, which includes an equity investment of US$100 million in Innovent by Takeda. The upfront payment will be funded through cash on hand.

Innovent will also be eligible for potential milestones and royalty payments, and a profit or loss split 60/40 (Takeda/Innovent) solely with respect to IBI363 in the U.S., where Takeda will lead the commercialization effort while Innovent will have a co-commercialization right. If Takeda exercises the option for IBI3001, Innovent will be eligible for an option exercise fee and additional potential milestone and royalty payments.