Eli Lilly Enters up to $3.35 Billion Research Collaboration Agreement With InnoCare Pharma

Paul, Weiss advised Eli Lilly and Company on a strategic research collaboration and licensing agreement with InnoCare Pharma, a leading biopharmaceutical company focused on treatments for cancer and autoimmune diseases. Under the agreement, Lilly will provide China-based InnoCare up to $100 million in upfront and near-term payments, and up to approximately $3.25 billion in development and commercial milestone payments. InnoCare will also be eligible to receive royalties based on annual net product sales.

The Paul, Weiss team was led by intellectual property partners Jeffrey Osterman and Meggin Bednarczyk.