Innovent inks diabetes development deal with Lilly

22 August 2019

Announcing a second collaboration this month, Hong Kong-based Innovent Biologics (HKEX: 01801) said yesterday that it has entered into a licensing agreement with Eli Lilly (NYSE: LLY) for the development and potential commercialization of oxyntomodulin analog, OXM3, in China, adding to its cooperation with the US pharma major in oncology started in 2015.

OXM3 is a dual GLP-1 and glucagon receptor agonist that will enter China as a potential best-in-class, mid-stage clinical development diabetes compound. Financial terms of the agreement were not disclosed.

"Innovent is committed to develop and commercialize high quality biopharmaceuticals that are affordable to ordinary people. This license agreement marks an important step for Innovent as it strengthens our portfolio by adding a potential best-in-class clinical stage metabolic disease asset, and it broadens the therapeutic areas we cover to include diabetes," said Michael Yu, founder, chief executive and chairman of Innovent.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK