- 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.
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Incyte to acquire vitiligo drug developer Villaris