Boehringer Ingelheim struck a license and collaboration deal with China’s Simcere to develop SIM-0709, a preclinical TL1A×IL‑23p19 bispecific for inflammatory bowel disease. The agreement includes approximately €42 million upfront and potential payments that could top €1.05 billion, reflecting the market value placed on novel IBD modalities. Under the pact, Boehringer will lead clinical development and global commercialization while accessing Simcere’s preclinical program. The transaction demonstrates continued big‑pharma appetite for multispecific biologics in immunology and provides Simcere with a substantial non-dilutive financing avenue.