SUZHOU, China, Dec. 16, 2018 /PRNewswire/ — Innovent Biologics, Inc. (Innovent) (HKEX: 01801) and Incyte (NASDAQ:INCY) today announced that th
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Innovent Biologics Inc. and Incyte have inked an agreement under which both the companies would collaborate three clinical-stage product candidates discovered and developed by Incyte—pemigatinib (FGFR1/2/3 inhibitor), itacitinib (JAK1 inhibitor) and parsaclisib (PI3Kδ inhibitor). Innovent will pay Incyte US$40 million in cash up front, and Incyte shall be eligible to receive an additional US$20 million in connection with the first investigational new drug (IND) application by Innovent in China. It is reported that this first IND is expected to be achieved in 2019. Additionally, Innovent will receive the rights to develop and commercialize the three assets of hematology and oncology in Mainland China, Hong Kong, Macau, and Taiwan.
