According to Jin10, InnoCare Pharma announced that its wholly owned subsidiary, Beijing InnoCare Pharma Tech Co., Ltd., signed a research collaboration and licensing agreement with Eli Lilly and Company, under which the two sides will cooperate in innovative drug development and work on up to five innovative target projects. Eli Lilly will pay up to $100 million in upfront and near-term milestone payments, while the total potential research, development, and commercialization milestone payments are about $3.25 billion. InnoCare Pharma also said it is entitled to receive tiered royalties in the low single digits on annual net sales of licensed products.

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