Innovent Biologics, Inc., a world-class biopharmaceutical company that develops and commercializes high quality medicines, today announced that it has entered into a licensing agreement with Eli Lilly and Company (Lilly) for the development and potential commercialization of oxyntomodulin analog, OXM3, in China. OXM3 is a dual GLP-1 and glucagon receptor agonist that will enter China as a potential best-in-class, mid-stage clinical development diabetes compound. Financial terms of the agreement were not disclosed.