Innovent Biologics has announced a major strategic collaboration with Takeda to accelerate the development and commercialization of next-generation immuno-oncology (IO) and antibody-drug conjugate (ADC) therapies for cancer treatment. This alliance aims to leverage the strengths of both companies to advance a portfolio of innovative investigational medicines and expand access to transformative cancer therapies globally.
The partnership centers around three of Innovent’s key pipeline assets: IBI363, IBI343, and IBI3001. Among these, IBI363, a first-in-class PD-1/IL-2α-biased bispecific antibody fusion protein, has shown robust anti-tumor activity and is currently in Phase 3 clinical development. IBI343, a potentially best-in-class CLDN18.2 ADC, is also in Phase 3 trials, while IBI3001, a first-in-class EGFR/B7H3 bispecific ADC, is in Phase 1 clinical evaluation.
Dr. Hui Zhou, Chief R&D Officer for Oncology Pipeline at Innovent Biologics, stated,
"We believe that developing innovative IO and ADC will be a key direction for redefining cancer treatment worldwide. This landmark collaboration with Takeda brings together our three next-generation assets. With clear, aligned development plans, Innovent's deep understanding of these assets, combined with Takeda's extensive experience and strong development and commercialization capabilities, we are committed to delivering these promising medicines to patients worldwide as quickly as possible. This collaboration is also a crucial step in fulfilling Innovent's strategic roadmap as we expand our global footprint, with the goal of becoming a leading global biopharmaceutical company."
Teresa Bitetti, President of the Global Oncology Business Unit at Takeda, added,
"We are excited to partner with Innovent, an accomplished team with deep expertise in next-generation immuno-oncology and ADC biology. IBI363 and IBI343, two next-generation investigational medicines, have the potential to address critical treatment gaps for patients with a range of solid tumors. We are energized by the progress made by Innovent to date and look forward to collaborating to unlock the potential of these programs. Our global research and development expertise and commercialization capabilities will enable us to accelerate the delivery of these investigational medicines to patients. These two programs have the potential to be transformative for our oncology portfolio and significantly enhance Takeda's growth potential post-2030."
Under the terms of the agreement, IBI363 will be co-developed and co-commercialized globally, with Innovent and Takeda sharing costs and U.S. profits on a 40/60 basis. Innovent retains rights in Greater China, while Takeda will hold commercialization rights outside Greater China and the U.S. The companies plan to position IBI363 as a next-generation IO backbone therapy targeting non-small cell lung cancer (NSCLC) and colorectal cancer (CRC), with potential expansion into other tumor types.
For IBI343, Takeda gains exclusive global rights (outside Greater China) to develop, manufacture, and commercialize the CLDN18.2 ADC, which has received Breakthrough and Fast Track Designations in both China and the U.S. It is being evaluated in Phase 3 trials for gastric, gastroesophageal, and pancreatic cancers.
IBI3001, currently in early-stage clinical testing, is a bispecific ADC targeting EGFR and B7-H3, combining potent anti-tumor mechanisms with a favorable safety profile. Takeda will hold an option for exclusive global rights outside Greater China.
Financially, the collaboration is valued at up to $11.4 billion, including an upfront payment of $1.2 billion (with a $100 million equity investment by Takeda in Innovent) and up to $10.2 billion in milestone payments tied to development and sales achievements across the three programs. Innovent will also receive tiered royalties up to the high-teens on global sales outside Greater China.
The companies will host a webcast on October 22, 2025, to discuss details of the collaboration. Morgan Stanley Asia Limited is acting as the exclusive financial advisor to Innovent Biologics for this transaction.
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