In October 2025, the two companies signed the deal as part of their focus on bispecifics and ADCs.
The agreement aims to expedite the worldwide development and commercialisation of Innovent’s ADC and IO therapies.
This includes IBI363 and IBI343, and an early-stage option for IBI3001, an epidermal growth factor receptor (EGFR)/ B7 homolog 3 (B7H3) ADC.
Innovent and Takeda will jointly develop IBI363 on a global scale and will co-commercialise the therapy in the US, with Takeda taking the lead in joint governance and the unified development plan.
Innovent has granted Takeda exclusive rights to commercialise IBI363 in all regions outside the US and Greater China.
Takeda also holds global manufacturing rights to supply IBI363 outside Greater China and will share commercial supply rights in the US with Innovent.
Takeda also holds an exclusive option to license global rights for IBI3001 currently in Phase I, outside Greater China.
The company will make an upfront payment of $1.2bn to Innovent, which includes a $100m equity investment through the issuance of new shares at HK$112.56 ($14.46) per share.
Innovent may receive additional development and sales milestone payments for IBI363, IBI343 and, if the option is exercised, IBI3001, totalling up to $10.2bn. This brings the potential overall deal value to $11.4bn.
It will also receive royalty payments for each molecule outside Greater China, with the exception of IBI363 in the US, where profits and losses will be shared, with Innovent receiving 40% and Takeda receiving 60%.
Innovent oncology pipeline chief research and development officer Dr Hui Zhou said: “IBI363 and IBI343 represent our next-generation therapies designed to address critical unmet needs in global cancer treatment.
“With clear, aligned development plans, Innovent’s deep understanding of these assets, combined with Takeda’s extensive experience and strong development and commercialisation capabilities, we are poised to maximise the clinical potential of these assets across multiple indications. We look forward to the collaboration with our partner going forward.”