Incyte Out Licenses Lymphoma Drug To InnoCare In Greater China

Incyte Corporation INCY and InnoCare have entered into a collaboration and license agreement to develop and commercial tafasitamab in Greater China.
Under the terms of the agreement, InnoCare will pay $35 million upfront.
Incyte is eligible to receive up to an additional $82.5 million milestone payments.
InnoCare will receive the rights to develop and exclusively commercialize tafasitamab in hematology and oncology in mainland China, Hong Kong, Macau, and Taiwan.
In 2010, MorphoSys AG MOR licensed exclusive worldwide rights to develop and commercialize tafasitamab from Xencor Inc XNCR.
In January 2020, MorphoSys and Incyte entered into a licensing agreement to develop and commercialize tafasitamab globally.
Tafasitamab is a humanized Fc-modified cytolytic CD19 targeting monoclonal antibody.
Price Action: INCY shares closed 0.71% higher at $73.99 on Monday.

Overview Rating:

Good

100

0100