Incyte links arms with tiny Biotheryx for protein degrader deal, targeting cancer
Incyte is jumping in on Biotheryx’s platform, looking for potential protein degraders for a new, undisclosed oncology target.
The deal, announced Wednesday morning, will see Biotheryx receive $7 million as a tech access fee, plus an additional $6 million in potential R&D backing. Milestones could add up to $347 million.
While the deal is currently only for one target, it could be expanded with the same financial numbers to other new cancer targets, Biotheryx CEO Philippe Drouet tells Endpoints News. If Incyte chooses to work with Biotheryx on a second target, for example, Incyte would have to pay another $7 million tech access fee, along with the potential R&D funding and the nine-figure potential in milestones.
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