Takeda and Innovent Forge $1.2B Upfront Oncology Pact for Bispecific and ADC Therapies, Total Deal Valued Up to $11.4B
Takeda and Innovent Biologics announced a global partnership on October 21, 2025, focused on the development and commercialization of next-generation immuno-oncology (IO) and antibody-drug conjugate (ADC) therapies for cancer.
Under the terms, Takeda will pay Innovent $1.2 billion upfront, including a $100 million equity investment at a premium price, with total deal value potentially reaching up to $11.4 billion through milestone payments and royalties2479.
Three key investigational assets are included:
IBI363 (PD-1/IL-2α-bias bispecific antibody in Phase 3), IBI343 (CLDN18.2-targeting ADC in Phase 3), and an option on IBI3001 (EGFR/B7H3 bispecific ADC in Phase 1)24.
Takeda and Innovent will co-develop and co-commercialize IBI363 worldwide (jointly in the U.S. with a 40/60 Innovent/Takeda split), while Takeda will have exclusive commercialization rights for IBI343 and option rights for IBI3001 outside Greater China24.
The partnership leverages Innovent’s IO and ADC R&D capabilities with Takeda’s global oncology expertise to accelerate late-stage therapies and expand access to cutting-edge cancer treatments2478.
Innovent is hosting conference calls and webcasts on October 22, 2025 to discuss the transaction with investors and stakeholders24.
Sources:
2. https://www.morningstar.com/news/pr-newswire/20251021cn03890/innovent-biologics-announces-global-strategic-partnership-with-takeda-to-bring-innovents-next-gen-io-backbone-therapy-and-adc-molecules-to-the-global-market
4. https://www.stocktitan.net/news/TAK/innovent-biologics-announces-global-strategic-partnership-with-rhj7yr4flene.html
7. https://www.fiercebiotech.com/biotech/takeda-pays-innovent-12b-upfront-rights-2-cancer-candidates
8. https://www.morningstar.com/news/business-wire/20251021006409/takeda-enters-global-strategic-partnership-with-innovent-biologics-to-bolster-oncology-pipeline-with-next-generation-investigational-medicines-for-treatment-of-solid-tumors
9. https://www.biospace.com/deals/takeda-bets-up-to-11-4b-for-three-innovent-adcs