With $200m upfront and a total deal value of up to a further $825m in milestones, plus tiered double-digit sales royalties, Eli Lilly and Company is betting big on Tyvyt (sintilimab), the immuno-oncology product co-developed with Chinese biotech Innovent Biologics, Inc.
The deal is particularly significant given the major US company had previously signed a co-development and co-commercialization deal in China with Innovent back in 2015, under which it paid $56m upfront, plus total milestones of more than $400m, for
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