Overview
- Innovent will receive $1.2 billion upfront plus a $100 million equity investment at about a 20% premium, with up to $10.2 billion in additional milestone payments possible.
- Takeda gains rights outside Greater China to two late-stage cancer programs and secures an option to a third earlier-stage therapy.
- Lead asset IBI363 is a dual-targeting antibody against PD-1 and IL-2 that has shown early potential in several solid tumors and is in Phase 1/2 and other mid-stage studies.
- IBI343 is a Claudin 18.2–targeting antibody-drug conjugate that has shown promising activity in gastric and pancreatic cancer studies, according to the companies.
- Takeda executives describe the programs as potentially transformative for its oncology portfolio as the company pursues external innovation to support future growth.