[InnoCare: A wholly-owned subsidiary signed a licensing agreement with Eli Lilly. The agreement includes milestone payments of up to US$3.25 billion] On September 24, InnoCare announced that the company’s wholly-owned subsidiary Beijing InnoCare Pharmaceutical Technology Co., Ltd. and Eli Lilly and Eli Lilly Company signed a research and development cooperation and licensing agreement. The two parties will carry out strategic cooperation in the field of innovative drug research and development. The company will rely on its proprietary drug discovery platform and deep research experience to discover and develop up to 5 innovative target projects to solve major unmet clinical needs. Eli Lilly will pay the company an upfront payment of up to $100 million and near-term milestone payments. Potential R&D and commercialization milestone payments total approximately US$3.25 billion. In addition, the Company is entitled to receive tiered royalties based on single-digit percentages of annual net sales of licensed products.