Press release
Incyte and InnoCare Announce Collaboration and License Agreement for Tafasitamab in Greater China
WILMINGTON, Del. & BEIJING--(BUSINESS WIRE)-- Incyte (NASDAQ:INCY) and InnoCare (HKEX: 09969) today announced that Incyte and a subsidiary of InnoCare have
About this update from Incyte Corporation
[{"type":"text","content":" WILMINGTON, Del. & BEIJING--(BUSINESS WIRE)--\nIncyte (NASDAQ:INCY) and InnoCare (HKEX: 09969) today announced that Incyte and a subsidiary of InnoCare have entered into a collaboration and license agreement for the development and commercialization of tafasitamab, a humanized Fc-modified cytolytic CD19 targeting monoclonal antibody, in Greater China.\n\nUnder the terms of the agreement, InnoCare will pay Incyte US$35 million up front, and Incyte is eligible to receive up to an additional US$82.5 million in potential development, regulatory and commercial milestones, as well as tiered royalties.\n\nInnoCare will receive the rights to develop and exclusively commercialize tafasitamab in hematology and oncology in mainland China, Hong Kong, Macau and Taiwan.\n\n“The collaboration with InnoCare allows us to accelerate the expansion of our partnered portfolio in China,” said Hervé Hoppenot, Chief Executive Officer, Incyte. “We believe InnoCare will be an excellent partner to accelerate the development of tafasitamab, and if approved, help bring this innovative therapy to patients and healthcare providers in Greater China.” \n\n“We are honored and excited to partner with Incyte, and are committed to making tafasitamab, an FDA-approved treatment, available to eligible patients in Greater China, upon approval. The strategic collaboration with Incyte will not only enhance our strength in the field of hematology and oncology, but also offer us good opportunity to explore the potential clinical benefit of our BTK inhibitor orelabrutinib in combination with tafasitamab,” said Dr. Jasmine Cui, Co-founder, Chairwoman and CEO of InnoCare. “In addition, we believe that tafasitamab, an innovative CD19 antibody, is critical to solidifying our long-term strategy to strengthen our large molecule capabilities and to enhance combinational therapies with our existing pipelines.”\n\nThe transaction is effective immediately upon the execution of the collaboration and license agreement.\n\nAbout Tafasitamab\n\nTafasitamab is a humanized Fc-modified cytolytic CD19 targeting monoclonal antibody. In 2010, MorphoSys licensed exclusive worldwide rights to develop and commercialize tafasitamab from Xencor, Inc. Tafasitamab incorporates an XmAb® engineered Fc domain, which mediates B-cell lysis through apoptosis and immune effector mechanism including antibod...