Incyte out-licenses tafasitamab to InnoCare for Greater China

US biotech Incyte (Nasdaq: INCY) and China’s InnoCare (HKEX: 09969) have announced that Incyte and a subsidiary of InnoCare have entered into a collaboration and license agreement for the development and commercialization of tafasitamab, a humanized Fc-modified cytolytic CD19 targeting monoclonal antibody, in Greater China.

Under the terms of the agreement, InnoCare will pay Incyte $35 million up front, and Incyte is eligible to receive up to an additional $82.5 million in potential development, regulatory and commercial milestones, as well as tiered royalties. InnoCare will receive the rights to develop and exclusively commercialize tafasitamab in hematology and oncology in mainland China, Hong Kong, Macau and Taiwan.

“The collaboration with InnoCare allows us to accelerate the expansion of our partnered portfolio in China,” said Hervé Hoppenot, chief executive of Incyte, adding: “We believe InnoCare will be an excellent partner to accelerate the development of tafasitamab, and if approved, help bring this innovative therapy to patients and healthcare providers in Greater China.”