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Incyte and Novartis form licensing agreement for two haematology-oncology programmes

Posted on: Wed, 25 Nov 2009 07:37:00 EST

Symbols: NVS, INCY

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The agreement covers INCB18424, an oral JAK1/JAK2 inhibitor that is in
Phase III development for myelofibrosis, a serious life-threatening
neoplastic condition characterised by varying degrees of bone marrow
failure, splenic enlargement and debilitating constitutional symptoms,
and INCB28060, an oral cMET inhibitor that is about to enter Phase I
development as a potential treatment for multiple cancers.

Under the agreement Incyte will retain exclusive rights for the
development and potential commercialisation of INCB18424 in the US, is
eligible to receive royalties on future sales of INCB28060 and has
retained an option to co-develop and co-promote INCB28060.

Novartis will be responsible for the future development and
commercialisation of INCB18424 in all haematology--oncology indications
outside of the US and will also be responsible for the future worldwide
development of INCB28060.
A
Novartis will make an upfront payment of USD150m to Incyte plus an
immediate USD60m milestone payment for the initiation of the European
Phase III trial of INCB18424, COMFORT-II, that started in July.

Incyte may be eligible over time for additional payments of up to
approximately USD1.1bn if future contingent development and
commercialisation milestones are achieved.

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For full details on Novartis Ag Ads (NVS) NVS. Novartis Ag Ads (NVS) has Short Term PowerRatings at TradingMarkets. Details on Novartis Ag Ads (NVS) Short Term PowerRatings is available at This Link.

For full details on Incyte Corp (INCY) INCY. Incyte Corp (INCY) has Short Term PowerRatings at TradingMarkets. Details on Incyte Corp (INCY) Short Term PowerRatings is available at This Link.

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