InnoCare Pharma (09969): Enters into a Strategic Research Collaboration and Licensing Agreement with Eli Lilly and Company to Develop New Drugs

InnoCare Pharma (09969) announced that the Company has entered into a strategic research collaboration and licensing agreement with Eli Lilly and Company, a leading global pharmaceutical company, to develop new drugs. Under the agreement, the Company will leverage its proprietary drug development platforms and extensive research experience to develop and advance compounds targeting up to five targets to address critical unmet medical needs. Pursuant to the terms of the agreement, the Company will be eligible to receive upfront and near-term payments of up to US$100 million, as well as development and commercialization milestone payments of up to approximately US$3.25 billion, with such payments subject to the satisfaction of applicable conditions and relevant milestones. In addition, the Company will be eligible to receive tiered royalties at single-digit percentages based on annual net sales of products.