Incyte achieves $25M milestone in Novartis deal
WILMINGTON, Del.—Incyte Corp. has announced the achievement of a $25 million milestone in its agreement with Novartis. The payment was triggered by the advancement of c-MET inhibitor INC280, currently being developed as a monotherapy for patients with advanced hepatocellular carcinoma, into a Phase II clinical trial. INC280 has demonstrated favorable pharmacologic activity in preclinical trials, and can be dosed safely to result in high levels of c-MET inhibition leading to tumor regression. Novartis is conducting the trial per the companies' collaboration and license agreement, which also grants it worldwide exclusive development and commercialization rights to the compound as well as back-up compounds in all indications. For its part, Incyte has the option to co-develop and co-detail INC280 in the United States.