InnoCare and Lilly Sign Drug Discovery Deal With Up to $3.25 Billion in Milestones

Nicole Hardy · 2026-09-24T06:20:11.511Z

It's good to see Lilly teaming with InnoCare on multiple disease targets instead of just one.

InnoCare and Lilly Sign Drug Discovery Deal With Up to $3.25 Billion in Milestones — © IJR

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InnoCare revealed on Thursday a strategic research collaboration and license agreement with Eli Lilly to discover and advance medicines against up to five targets. The company is eligible for up to $100 million in upfront and near-term payments, up to approximately $3.25 billion in development and commercial milestone payments, and tiered single-digit royalties on annual net product sales. InnoCare contributes its proprietary drug-discovery platform and research expertise; Lilly provides global pharmaceutical capabilities. Specific targets and compounds were not disclosed. InnoCare's Jasmine Cui commented on the collaboration leveraging InnoCare's R&D platform and Lilly's global capabilities. Contested: Share reports showed the stock down 8.38% at HK$14.43 in one case and at 14.08 HKD down 10.60% in another; the deal was also reported as worth up to $3.3 billion. InnoCare's pipeline includes three approved drugs, orelabrutinib, tafasitamab and zurletrectinib, more than ten innovative drug candidates in clinical development, and multiple pre-clinical programs. The company employs 1,388 people and has a mean consensus BUY from 9 analysts. Lilly closed Wednesday at $1,150.99 down 1.64% and rose 0.06% overnight to $1,151.63. Milestone payments depend on successful development and commercialization. Published 9/24/2026.