Takeda bulks up oncology portfolio via deal with Innovent

Japan’s largest drugmaker Takeda (TYO 4502) has entered into a license and collaboration agreement with China’s Innovent Biologics (HKEX: 01801) for the development, manufacturing and commercialization of two late-stage oncology medicines, IBI363 and IBI343, excluding Greater China, that could be worth up to $11.4 billion.

Innovent shares rose nearly 10% on opening and were still up by 4.4% to HK$90.75 in later trading.

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. Takeda will also receive an exclusive option to license global rights outside of Greater China for IBI3001, an early-stage investigational medicine.