Incyte entered into an agreement to acquire Villaris Therapeutics a start-up focused on the development of novel antibody therapeutics for the skin disease vitiligo.
The disease leads to the loss of skin pigment.
Incyte is based just outside Wilmington. Villaris is located in Cary, NC.
Its lead asset, auremolimab an anti-IL-15Rβ monoclonal antibody is expected to enter clinical development in 2023.
Under the terms of the agreement, Incyte will acquire Villaris and the exclusive global rights to develop and commercialize auremolimab for all uses.
Incyte will make an upfront payment of $70 million, and Villaris shareholders will be eligible for up to $310 million upon achievement of certain development and regulatory milestones, as well as up to an additional $1 billion in commercial milestones on net sales of the product.
“This acquisition complements our current portfolio, providing us the opportunity to further enhance treatment options for people with vitiligo, leveraging the expertise we established in the dermatology space through our successful launch of Opzelura (ruxolitinib) Cream,” said Hervé Hoppenot, Incyte CEO. “People living with immune-mediated dermatologic diseases like vitiligo face significant challenges and we are committed to developing novel therapies like auremolimab, which may address these unmet needs.”
The agreement is subject to clearance by the U.S. antitrust authorities and will become effective as soon as this condition has been met.
In dermatology, Incyte’s research and development efforts are focused on leveraging knowledge of the JAK-STAT pathway to identify and develop topical and oral therapies with the potential to affect immune pathways driving uncontrolled inflammation and help restore normal immune function.
The company’s blockbuster blood cancer drug Jakafi came out of Incyte JAK research.
Currently, Incyte is exploring the potential of JAK inhibition for other conditions.
