Innovent Biologics

Innovent Biologics, Inc. (Innovent; ) is a publicly listed Chinese biopharmaceutical company that is headquartered in Suzhou, Jiangsu.

History

Innovent was founded in 2011 by Yu Dechao to focus on the development of a class of biotech drugs known as monoclonal antibodies. It received venture capital funding from Eli Lilly and Company and Fidelity Investments.[2] Other investors included China Life, Hillhouse Capital and Temasek.[3]

In March 2015, Innovent and Eli Lilly agreed to a deal that would pay $56 million upfront to Innovent to co-develop at least three experimental cancer drugs. Innovent would be paid more than $400 million if one of the Innovent drugs hit certain development and commercial goals.[2]

In October 2018, Innovent held its initial public offering and became a listed company on the Hong Kong Stock Exchange. The offering raised $421 million.[4]

In December 2018, Innovent's Sintilimab was approved in China. In 2020, Eli Lilly paid $200 million upfront and committed up to $825 million to gain ex-China rights to it. However, in December 2022, Eli Lilly terminated the deal due to Food and Drug Administration rejection.[5]

In June 2025, Innovent's Mazdutide was approved in China. It was the first Chinese company to win regulatory approval to sell a GLP-1 drug for weight loss and diabetes.[6][7] It partnered with JD Health to help distribute the drug.[7]

In August 2025, Sanofi stated it would invest $307.88 million in Innovent to jointly develop two cancer drugs in China.[8]

In October 2025, Takeda Pharmaceutical Company signed an $11.4 billion deal with Innovent to help accelerate the development of immuno-oncology and antibody-drug conjugate cancer therapies. The deal includes a $1.2 billion upfront payment from Takeda.[9]

In November 2025, it was announced that Innovent would become a member of the Hang Seng Index.[10]

See also

• Novo Nordisk
• Merck & Co.
• Bristol Myers Squibb