Shots:
- InnoCare has entered into a strategic research collaboration & license agreement with Eli Lilly to develop new medicines, using its drug discovery platform
- As per the deal, InnoCare will leverage its drug discovery platform & research expertise to discover & advance compounds against up to five targets addressing critical unmet medical needs
- InnoCare will receive ~$100M in upfront & near-term payments, & ~$3.25B in development & commercial milestone payments, along with single-digit tiered royalties on annual net product sales
Ref: Globenewswire | Image: InnoCare & Eli Lilly | Press Release
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