Takeda struck a $1.2 billion licensing and collaboration agreement with Innovent Biologics to acquire global rights (outside Greater China) to two late‑stage oncology candidates: IBI363, a PD‑1/IL‑2α‑bias bispecific fusion, and IBI343, a Claudin‑18.2‑targeting antibody‑drug conjugate. Takeda will lead development, manufacturing and commercialization globally and expects the assets to complement its oncology portfolio. Both candidates carry fast‑track designations and have early clinical signals: IBI363 has shown activity in PD‑1 refractory patients, and IBI343 has recorded responses in gastric and pancreatic cancer cohorts. The deal reflects big‑pharma strategies to secure differentiated immuno‑oncology and ADC approaches for hard‑to‑treat solid tumors.