Incyte punts $750 million on buy of Escient Pharma

In a bid to expand its portfolio of immunology products, US biotech Incyte (Nasdaq: INCY) today announced it plans to acquire privately-held Escient Pharmaceuticals.

With the buy, Incyte will gain rights to investigation candidates including EP262, a first-in-class, potent, highly selective, once-daily small molecule antagonist of Mas-related G protein-coupled receptor X2 (MRGPRX2) and EP547, a first-in-class oral MRGPRX4 antagonist.

Under the terms of the agreement, Incyte will acquire Escient and its assets for $750 million plus Escient’s net cash remaining at the close of the transaction, subject to customary adjustments. The acquisition is subject to clearance under the Hart-Scott-Rodino Act, among other customary conditions, and will become effective promptly following the satisfaction or waiver of these conditions which is currently anticipated to be by the third quarter of 2024.