Singapore: Elli Lilly has inked a 10-year pact with China's Innovent Biologics to develop and commercialize three new cancer treatments. Innovent describes the deal as one of the largest biotech drug development collaborations in China till date between a multinational and a domestic company.

Innovent will lead development and manufacturing for the three potential medicines in the country, while Lilly will be responsible for commercialization.

As per the agreement, the US drugmaker will provide its cMet monoclonal antibody gene for possible treatment of non-small cell lung cancer, while Innovent will contribute its monoclonal antibody targeting protein CD-20 for investigation in haematologic malignancies as well as a preclinical immuno-oncology molecule for development in China.

Innovent will receive total upfront payment of $56 million, and also future payments of more than $400 million based on certain development, regulatory and sales milestones.

Recently, Lilly has also inked a pact with Korea's Hanmi pharmaceuticals to develop and commercialize Hanmi's treatment for an autoimmune disorder.