InnoCare Announces Strategic Research Collaboration and License Agreement with Lilly to Develop New Medicines

InnoCare Pharma has entered into a strategic research collaboration and license agreement with Eli Lilly to discover and develop compounds against up to five targets. Under the agreement, InnoCare is eligible to receive up to $100 million in upfront and near-term payments, plus up to $3.25 billion in development and commercial milestone payments, along with single-digit tiered royalties on net product sales.