Takeda signed a $1.2 billion licensing and collaboration agreement with China’s Innovent Biologics to obtain rights outside Greater China to two late‑stage oncology assets: IBI363, a PD‑1/IL‑2α‑bias bispecific, and IBI343, a Claudin‑18.2 ADC. Both programs hold fast‑track designations and have shown clinical activity across solid tumors in early studies. Takeda will take responsibility for global development, manufacturing and commercialization outside Innovent’s home market; Innovent retains Greater China rights. The deal accelerates Takeda’s oncology footprint and gives it access to a bispecific and an ADC with sizable potential across difficult indications like gastric and pancreatic cancers.