Incyte Corporation (NASDAQ: INCY) announced today that it has entered into a collaboration and license agreement with Novartis for two of its investigational hematology-oncology therapies: INCB18424, an oral JAK1/JAK2 inhibitor that is in Phase III development for myelofibrosis.
How does it benefit patients?
It would accelerate the ex-US, specifically Europian, development of the drug for myelofibosis. The major Myelofibrosis is a serious life-threatening neoplastic condition characterized by varying degrees of bone marrow failure, splenic enlargement and debilitating constitutional symptoms.
How does it help Incyte?
Incyte gets to keep the US rights, gets Novartis to pay for the European trials and according to Paul A. Friedman, Incyte’s president and CEO, this would give Incyte "sufficient resources to continue to advance other promising compounds in our pipeline".
How does it help Novartis?
Novartis gets the rights and responsibility for the future development and commercialization of INCB18424 in all hematology–oncology indications outside of the US. Novartis also gets rights to future worldwide development of INCB28060 a cMet cancer inhibitor with Incyte retaining rights to co-develop.
What were the terms?
- Upfront payment of $150 million from Novartis to Incyte.
- Milestone payment of $60 million from Novartis to Incyte for initiation of the European Phase III trial of INCB18424, COMFORT-II.
- Additional milestones payments of up to approximately $1.1 billion from Novartis to Incyte.
- Double-digit royalty payments on future ex-US INCB18424 sales from Novartis to Incyte.
- Royalties on sales of INCB28060 from Novartis to Incyte.
Who else has a similar compound?
- Phase III:
No other compound - Phase II:
Cephalon: CEP-701 - Phase I
AstraZeneca: AZD1480
Exelixis: XL019
S*BIO: SB1518
Cytopia Research: CYT387
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