China's Innovent signs $11.4 billion cancer therapy deal with Japan's Takeda

Takeda Pharmaceutical

22/10/2025 01:33

Oct 22 (Reuters) - China's Innovent Biologics 1801.HK said on Wednesday it had signed an $11.4 billion deal with Japan's Takeda Pharmaceutical Co 4502.T to accelerate the development of its immuno-oncology and antibody-drug conjugate cancer therapies.

Under the agreement, Innovent is set to receive a $1.2 billion upfront payment from a unit of Takeda. It is also eligible for potential milestone payments totalling up to $10.2 billion, bringing the total deal value to $11.4 billion.

The Takeda unit has also agreed to invest $100 million in the Chinese innovative medicines developer and producer through a subscription, wherein Innovent will issue shares at a price of HK$112.56 apiece.

The collaboration also aims to explore and maximise the potential of Innovent's late-stage investigational medicine for non-small cell lung cancer and colorectal cancer.

 (Reporting by Shivangi Lahiri in Bengaluru; Editing by Subhranshu Sahu)

 ((Shivangi.Lahiri@thomsonreuters.com;))