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Business

… And China’s Innovent

by Michael McCoy
March 30, 2015 | A version of this story appeared in Volume 93, Issue 13
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Eli Lilly & Co. and China’s Innovent Biologics are joining in what Lilly calls one of China’s largest cross-border biotech drug development collaborations to date. Innovent was cofounded in 2011 by CEO Michael Yu to develop biologic drugs. Under the deal Innovent will receive $56 million up front and potentially more than $400 million later. The partners will develop at least three cancer treatments—one from Lilly and two from Innovent—over the next decade.

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