Incyte Corporation (NASDAQ:INCY) said Monday it has agreed to acquire Vega Therapeutics, a wholly owned subsidiary of Star Therapeutics, in a deal valued at $1.25 billion upfront.
The transaction will add late-stage candidate VGA039 to Incyte's hematology portfolio and could reach a total value of $2 billion if certain sales milestones are achieved. • Incyte shares are powering higher.
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Deal Brings Late-Stage Von Willebrand Disease Therapy To Incyte Under the terms of the agreement, Star Therapeutics could receive up to $750 million in additional milestone payments tied to future sales performance.
The centerpiece of the deal is VGA039, a novel monoclonal antibody designed to modulate Protein S and improve hemostasis, potentially helping the body better control bleeding in a range of bleeding disorders.
