US-based pharmaceutical company Incyte has signed a strategic collaboration agreement to out-licence three clinical-stage products to China-based Innovent Biologics.

The agreement gives Innovent the rights to develop and commercialise pemigatinib, itacitinib and parsaclisib for haematology and oncology indications in Mainland China, Hong Kong, Macau and Taiwan.

Pemigatinib is a fibroblast growth factor receptors (FGFRs) inhibitor, while itacitinib is designed to selectively block JAK1. Parsaclisib is an oral phosphatidylinositol 3-kinase delta (PI3Kδ) inhibitor.

Incyte CEO Hervé Hoppenot said: “The collaboration and partnership with Innovent provides us with an important and strategic opportunity to further serve the oncology community around the world by potentially bringing new, innovative medicines to patients with high unmet medical needs in China.

“We believe Innovent’s experienced leadership team and sizeable clinical network will expand our clinical trials for itacitinib, pemigatinib and parsaclisib, and, if any of these product candidates are approved, will provide access to our innovative therapies to patients and healthcare providers in China.”

“We believe Innovent’s experienced leadership team and sizeable clinical network will expand our clinical trials for itacitinib, pemigatinib and parsaclisib.”

As per the agreement, Innovent will pay $40m in cash upfront to Incyte, along with another $20m associated with the first investigational new drug (IND) application by the former in China, which is expected to be met next year.

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Incyte will also be eligible for up to $129m in potential development and regulatory milestones, as well as up to $202.5m in potential commercial milestones.

The Chinese company is also eligible to receive tiered royalties on future sales of products resulting from the alliance. Incyte holds an option to support the promotion of the three product candidates in China.

Innovent Biologics CEO and president Michael DC Yu said: “These three novel medicines from Incyte complement our rich pipeline of immune-oncology-focused monoclonal antibodies and also enable the exploration of combination treatment approaches with the potential to further improve patient outcomes worldwide.”