INCY - Incyte to acquire vitiligo drug developer Villaris

• Incyte ( NASDAQ: INCY ), a biotech focused on oncology, announced Monday an agreement to acquire Villaris Therapeutics, a Cary, North Carolina-based drug developer focused on treatments for the skin condition vitiligo.
• Villaris, backed by healthcare-focused investment firm Medicxi, is advancing auremolimab (VM6) as its lead asset. The monoclonal antibody is set to undergo clinical trials in 2023.
• Per the terms, INCY will acquire Villaris and the exclusive rights to develop and sell auremolimab for all indications, including vitiligo, for $70M upfront.
• In addition, Villaris' shareholders will receive up to $310M in milestone payments and up to $1.05B in milestone payments based on auremolimab net sales.
• The deal, subject to U.S. antitrust rules, is expected to complete as soon as conditions are met.

For further details see: