InnoCare Announces Strategic Research Collaboration and License Agreement with Lilly to Develop New Medicines

BEIJING, Sept. 24, 2026 (GLOBE NEWSWIRE) — InnoCare Pharma (HKEX: 09969; SSE: 688428), a leading biopharmaceutical company focusing on the treatment of cancer and autoimmune diseases, announced today that the Company has entered into a strategic research collaboration and license agreement with Eli Lilly and Company (“Lilly”) to develop new medicines.

InnoCare will leverage its proprietary drug discovery platform and extensive research experience to discover and advance compounds against up to five targets to address critical unmet medical needs.

“We are excited to leverage our R&D platform to collaborate with a global pharmaceutical leader like Lilly,” said Dr. Jasmine Cui, the Co-founder, Chairwoman and CEO of InnoCare. “We are dedicated to expanding our partnership and innovation footprint.”

Under the terms of the agreement, InnoCare will be eligible to receive up to $100 million in upfront and near-term payments, and up to approximately $3.25 billion in development and commercial milestone payments. In addition, InnoCare will be eligible to receive single-digit tiered royalties based on annual net product sales.

About InnoCare Pharma

InnoCare (HKEX: 09969; SSE: 688428) is a commercial stage biopharmaceutical company committed to discovering, developing, and commercializing innovative drugs for the treatment of cancers and autoimmune diseases, two therapeutic areas with unmet medical needs worldwide. InnoCare has established comprehensive innovation platforms for drug discovery. To date, the Company has developed a robust product pipeline comprising three approved drugs (orelabrutinib, tafasitamab and zurletrectinib), more than ten innovative drug candidates in clinical development, and multiple programs in preclinical stages. InnoCare has branches in Beijing, Nanjing, Shanghai, Guangzhou, Hong Kong SAR, and the United States. For more information about InnoCare, please visit https://www.innocarepharma.com/en and follow us on LinkedIn.

Forward-Looking Statements
This release contains certain forward-looking statements. All statements, other than statements of fact, could be considered forward-looking statements, meaning statements regarding actions, events, or developments that we or our management intend, expect, project, believe, or anticipate will or may occur in the future. These statements are based on assumptions and estimates made by our management in light of their experience and perception of historical trends, current conditions, expected future developments, and other relevant factors. Forward-looking statements are not guarantees of future performance, and actual results, developments, and business decisions may differ materially from those contemplated by these forward-looking statements. Our forward-looking statements are subject to a number of risks and uncertainties that could affect our near- and long-term performance.

Cautionary Statement
The payments in this research collaboration and license agreement are subject to certain conditions. There is still uncertainty regarding the final payment.