INNOCARE Enters Strategic Research and Licensing Pact with Eli Lilly for Novel Drug Development

Stock News

Sep 24

INNOCARE (09969) has announced a strategic research collaboration and licensing agreement with global pharmaceutical leader Eli Lilly, aimed at advancing new drug development.

Under the agreement, INNOCARE will leverage its proprietary drug discovery platform and extensive research expertise to develop and progress compounds targeting up to five distinct targets, addressing critical unmet medical needs.

The company is eligible to receive up to $100 million in upfront and near-term payments, along with potential development and commercialization milestone payments totaling approximately $3.25 billion, subject to the satisfaction of applicable conditions and specified milestone requirements. Additionally, INNOCARE stands to earn tiered royalties at single-digit percentage rates based on annual net sales of the products.

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