Incyte and Zai Lab ink deal for cancer drug in Greater China
US biotech Incyte (Nasdaq: INCY) and China and USA-based Zai Lab (Nasdaq: ZLAB) have entered into a collaboration and license agreement for the development and commercialization of INCMGA0012, an investigational anti-PD-1 monoclonal antibody, in Greater China.
Under the terms of the agreement, Zai Lab will pay Incyte $17.5 million up front, and Incyte is eligible to receive up to an additional $60 million in potential development, regulatory and commercial milestones, as well as tiered royalties from the low to mid-twenties, with Incyte responsible for all royalties and pass-through payments to its licensing partner, MacroGenics, from which it gained global rights to INCMGA0012 in 2017.
Zai Lab will receive the rights to develop and exclusively commercialize INCMGA0012 in hematology and oncology in mainland China, Hong Kong, Macau and Taiwan. Incyte will retain an option to assist in the promotion of INCMGA0012 in Zai Lab’s licensed territories.
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