Incyte Completes Acquisition of Escient Pharmaceuticals
May 30 2024 - 4:05PM
Business Wire
Acquisition strengthens Incyte’s Inflammation
and Autoimmunity (IAI) pipeline and reinforces commitment to bring
innovative solutions to patients
Incyte (Nasdaq:INCY) today announced that it has completed its
acquisition of Escient Pharmaceuticals, a clinical-stage drug
discovery and development company advancing novel small molecule
therapeutics for systemic immune and neuro-immune disorders.
"The acquisition of Escient and its first-in-class oral MRGPR
antagonists bolsters our Inflammation and Autoimmunity portfolio
and our commitment to creating innovative solutions that address
the urgent needs of patients living with severe inflammatory
diseases," stated Hervé Hoppenot, Chief Executive Officer, Incyte.
"We are excited to continue the work started by the Escient team
and accelerate the clinical development of these promising
therapies."
Through this transaction, Incyte has added EP262 and EP547 to
its portfolio. EP262 is a first-in-class, potent, highly selective,
once-daily small molecule antagonist of Mas-related G
protein-coupled receptor X2 (MRGPRX2). By blocking MRGPRX2 and
degranulation of mast cells, EP262 has the potential to effectively
treat multiple mast cell-mediated diseases including chronic
inducible urticaria (CIndU), chronic spontaneous urticaria (CSU)
and atopic dermatitis (AD). EP547 is a first-in-class oral MRGPRX4
antagonist with the potential to treat cholestatic pruritus and
other conditions with severe pruritus.
“Over the past six years, Escient has pioneered the
characterization of MRGPR biology and advanced two novel
candidates, EP262 and E547, into clinical development,” commented
Joshua Grass, Chief Executive Officer of Escient Pharmaceuticals.
"The close of this transaction represents the recognition of value
of the innovation by the Escient team, and also represents an
exciting transition to Incyte, a global biopharmaceutical company
that is well positioned to advance these novel candidates to
address the unmet needs of patients worldwide.”
As previously disclosed, under the terms of the agreement,
Incyte has acquired Escient and its assets for $750 million plus
Escient’s net cash remaining at the close of the transaction,
subject to customary adjustments.
Centerview Partners LLC and Goldman Sachs & Co. LLC advised
Escient on the transaction, and Fenwick & West LLP acted as
legal counsel for Escient. Covington & Burling LLP acted as
legal counsel for Incyte.
About EP262
EP262 is a potent, highly selective once-daily small molecule
antagonist of MRGPRX2, a receptor expressed on mast cells that is
activated by numerous ligands, including many peptides released
from sensory neurons as well as other cell types. In response to
MRGPRX2 activation, mast cells release histamine, tryptase,
chymase, chemokines and cytokines, which can cause itchy hives,
angioedema, type 2 inflammation (through engagement of the adaptive
immune system) and chronic pruritus and pain. Preclinical data
demonstrate that, by blocking activation of MRGPRX2, EP262 has the
potential to effectively treat a broad range of mast cell-mediated
conditions, with an initial focus on chronic urticarias and atopic
dermatitis.
About EP547
EP547 is a potent, highly selective antagonist that blocks the
activation of MRGPRX4 by various bile acids, bilirubin and
urobilin. By virtue of this disease-specific mechanism of action,
EP547 has the potential to be a highly targeted and efficacious
treatment for cholestatic and uremic pruritus.
About Incyte
A global biopharmaceutical company on a mission to Solve On.,
Incyte follows the science to find solutions for patients with
unmet medical needs. Through the discovery, development and
commercialization of proprietary therapeutics, Incyte has
established a portfolio of first-in-class medicines for patients
and a strong pipeline of products in Oncology and Inflammation
& Autoimmunity. Headquartered in Wilmington, Delaware, Incyte
has operations in North America, Europe and Asia.
For additional information on Incyte, please visit Incyte.com or
follow us on social media: LinkedIn, X, Instagram, Facebook,
YouTube.
About Escient Pharmaceuticals
Escient Pharmaceuticals is a clinical-stage company focused on
developing novel therapeutics to address a broad range of
neurosensory-inflammatory disorders. The company’s pipeline
includes two first-in-class small molecule antagonists targeting
MRGPRX2 for the treatment of various mast cell mediated disorders
and MRGPRX4 for cholestatic pruritus. Based in San Diego,
California, Escient is led by an experienced management and
scientific team and funded by top-tier life science investors.
Incyte Forward-Looking Statements
Except for the historical information set forth herein, the
matters set forth in this press release, including statements
regarding the opportunities presented by this transaction; whether
and when EP262 or EP547 will be approved for use; whether and when
Incyte will bring EP262 or EP547 to market; the potential of EP262
or EP547 to treat patients with atopic dermatitis (AD), chronic
inducible urticaria (CIndU) and chronic urticaria (CSU) or for any
other indication; and the potential for Incyte to broaden its
ability to bring new medicines to patients, contain predictions,
estimates and other forward-looking statements.
These forward-looking statements are based on our current
expectations and are subject to risks and uncertainties that may
cause actual results to differ materially, including unanticipated
developments in and risks related to: unanticipated delays; further
research and development and the results of clinical trials
possibly being unsuccessful or insufficient to meet applicable
regulatory standards or warrant continued development; the ability
to enroll sufficient numbers of subjects in clinical trials and the
ability to enroll subjects in accordance with planned schedules;
determinations made by the FDA and regulatory agencies outside of
the United States; the efficacy or safety of our products; the
acceptance of our products in the marketplace; market competition;
unexpected variations in the demand for our products and the
products of our collaboration partners; the effects of announced or
unexpected price regulation or limitations on reimbursement or
coverage for our products; sales, marketing, manufacturing, and
distribution requirements, including our ability to successfully
commercialize and build commercial infrastructure for newly
approved products and any additional new products that become
approved; and other risks detailed from time to time in our reports
filed with the U.S. Securities and Exchange Commission, including
our annual report on Form 10-K and our quarterly report on Form
10-Q for the quarter ended March 31, 2024. We disclaim any intent
or obligation to update these forward-looking statements.
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