Philippe Drouet, Biotheryx CEO

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.

Endpoints News

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