Eli Lilly expanded its long‑standing relationship with Innovent Biologics through a new collaboration focused on oncology and immunology programs, featuring $350 million in upfront payments and potential deal economics that could reach several billion dollars. The partnership is the latest in a series of strategic ties between the two companies to co‑develop antibody and biologic candidates for China and global markets. Lilly described the deal as moving "beyond traditional licensing" by sharing discovery and development responsibilities. The agreement follows prior partnerships and reinforces big‑pharma strategies that pair in‑house R&D with regional biologics partners to accelerate clinical programs and commercial access in Asia.