Innovent in-licenses clinical-stage candidates for China

17 December 2018

Hong Kong’s Innovent Biologics (HKEX: 01801), which has recently completed a $400 million-plus IPO, today said it had entered into a licensing deal for three clinical-stage compound for the Chinese market.

Innovent and US biotech Incyte (Nasdaq: INCY), through their respective subsidiaries, have entered into a strategic collaboration agreement for three clinical-stage product candidates discovered and developed by Incyte - pemigatinib (FGFR1/2/3 inhibitor), itacitinib (JAK1 inhibitor) and parsaclisib (PI3Kδ inhibitor).

Innovent’s shares gained 5.97% to HK$22.20 by close of Hong Kong trading, while Incyte’s stock dipped 0.38% to $66.00 shortly after markets opening.

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