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Takeda, which is undergoing a big pipeline transformation, has forged one of the year’s largest upfront R&D pacts. And like more than a third of this year’s biopharma licensing deals, it involves a Chinese drug developer.
The Japanese pharma will pay $1.2 billion upfront to Suzhou-headquartered Innovent Biologics to get access to immuno-oncology and antibody-drug conjugate medicines. The upfront includes a $100 million strategic equity investment in Innovent, the companies said Wednesday morning, or Tuesday night New York time.
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