Innovent Biologics, listed on HKEX as 01801, has officially closed its global strategic partnership with Takeda, listed on TSE as 4502 and NYSE as TAK, following the completion of all closing conditions. The agreement, first announced on October 22, 2025, is designed to advance the global development and commercialization of Innovent’s next-generation immuno-oncology and antibody-drug conjugate therapies. The collaboration covers key programs including IBI363, a PD-1/IL-2α-bias therapy, IBI343, a CLDN18.2 ADC, and provides Takeda an option to license IBI3001, an early-stage EGFR/B7H3 bispecific ADC.
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Dr. Hui Zhou, Chief R&D Officer for the Oncology Pipeline at Innovent, explained that IBI363 and IBI343 represent innovative therapies addressing critical unmet needs in global cancer care. He noted that Innovent’s deep expertise combined with Takeda’s extensive development and commercialization capabilities creates a strong foundation for maximizing the clinical potential of these assets across multiple indications. He added that the teams are aligned on development plans and look forward to progressing the collaboration.
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Under the terms of the agreement, Innovent and Takeda will co-develop IBI363 globally and co-commercialize it in the U.S., with Takeda leading efforts under joint governance and a shared development plan. Takeda has exclusive commercialization rights for IBI363 outside the U.S. and Greater China and holds global manufacturing rights for supply outside Greater China, co-exclusive with Innovent for U.S. commercial supply. Takeda also receives exclusive global rights to develop, manufacture, and commercialize IBI343 outside of Greater China. The agreement includes an exclusive option for Takeda to license global rights for IBI3001 outside Greater China.
Takeda will make an upfront payment of $1.2 billion to Innovent, which includes a $100 million equity investment through a premium share issuance at HK$112.56 per share. In addition, Innovent is eligible for development and sales milestone payments for IBI363, IBI343, and IBI3001 if the option is exercised, with total potential milestone payments of approximately $10.2 billion, bringing the total deal value to about $11.4 billion. Innovent may also receive royalties on each molecule outside Greater China, except for IBI363 in the U.S., where profits and losses will be shared 40/60 between Innovent and Takeda.
This partnership strengthens Innovent’s global presence and accelerates the development of innovative cancer therapies, combining the expertise and capabilities of both companies to expand patient access to next-generation treatments.
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