Innovent Biologics Announces Closing of Global Strategic Partnership with Takeda for Next-Generation IO and ADC Therapies

SAN FRANCISCO and SUZHOU, China, Dec. 4, 2025 /PRNewswire/ -- Innovent Biologics (HKEX: 01801) today announced that the global strategic collaboration with Takeda ((TSE: 4502, NYSE:TAK) has closed and become effective following the satisfaction of all closing conditions. The collaboration, initially announced on October 22, 2025, aims to accelerate the global development and commercialization of Innovent's next-generation immuno-oncology (IO) and antibody-drug conjugate (ADC) therapies, including the global partnership on IBI363 (PD-1/IL-2^α-bias) and IBI343 (CLDN18.2 ADC), and an option for an early-stage program IBI3001 (EGFR/B7H3 ADC).

Dr. Hui Zhou, Chief R&D Officer for Oncology Pipeline at Innovent, stated, "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 commercialization capabilities, we are poised to maximize the clinical potential of these assets across multiple indications. We look forward to the collaboration with our partner going forward."

Under the agreement:

• Innovent and Takeda will co-develop IBI363 globally, and co-commercialize IBI363 in the U.S., with Takeda leading the co-development and co-commercialization efforts under joint governance and aligned development plan. In addition, Innovent has granted Takeda exclusive commercialization rights for IBI363 outside Greater China and the U.S. Takeda has global manufacturing rights to supply IBI363 outside of Greater China, with such rights being co-exclusive with Innovent for commercial supply in the U.S.
• Innovent has also granted Takeda exclusive global rights to develop, manufacture and commercialize IBI343 outside of Greater China.
• Additionally, Takeda receives an exclusive option to license global rights for IBI3001, a first-in-class EGFR/B7H3 bispecific ADC in Phase 1 stage, outside Greater China.

Takeda will pay Innovent an upfront payment of US$1.2 billion, including a US$100 million equity investment in Innovent through new share issuance at premium, i.e., HK$112.56 per share. Furthermore, Innovent is eligible for development and sales milestone payments for IBI363, IBI343, and IBI3001 (if option exercised) totaling up to approximately $10.2 billion, for a total deal value of up to $11.4 billion. Innovent is also eligible to receive potential royalty payments for each molecule outside Greater China, except with respect to IBI363 in the U.S., where the parties will share profits or losses (40/60 Innovent/Takeda).

Detailed information about the collaboration can be found at the official website of Innovent Biologics.

About Innovent Biologics

Innovent is a leading biopharmaceutical company founded in 2011 with the mission to empower patients worldwide with affordable, high-quality biopharmaceuticals. The company discovers, develops, manufactures and commercializes innovative medicines that target some of the most intractable diseases. Its pioneering therapies treat cancer, cardiovascular and metabolic, autoimmune and eye diseases. Innovent has launched 17 products in the market. It has 1 new drug applications under regulatory review, 4 assets in Phase 3 or pivotal clinical trials and 15 more molecules in early clinical stage. Innovent partners with over 30 global healthcare companies, including Eli Lilly, Roche, Takeda, Sanofi, Incyte, LG Chem and MD Anderson Cancer Center.

Guided by the motto, "Start with Integrity, Succeed through Action" Innovent maintains the highest standard of industry practices and works collaboratively to advance the biopharmaceutical industry so that first-rate pharmaceutical drugs can become widely accessible. For more information, visit www.innoventbio.com, or follow Innovent on Facebook and LinkedIn.

Forward-looking statement

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These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of Innovent with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond Innovent's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, Innovent's competitive environment and political, economic, legal and social conditions.

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SOURCE Innovent Biologics