Chinese biotech deal-making is moving beyond the licensing of individual drug candidates, analysts say, as Beijing-based cancer drug developer InnoCare Pharma said on Thursday it had entered into a strategic research collaboration and licensing agreement with US pharmaceutical giant Eli Lilly that could be worth up to US$3.35 billion.
Chinese biotech deal underlines deeper collaboration
Under the agreement, InnoCare said it would use its drug discovery platform to identify and advance compounds against up to five targets. The companies did not disclose the specific therapeutic areas covered by their partnership, saying only that the new drugs would seek to “address critical unmet medical needs”.
Analysts: China shifting from follower to global innovation leader
Analysts say the transaction underscores a broader shift in China’s biotech sector, as the country transforms from a follower to a global innovation leader.
