Incyte gets a Prelude insurance policy

Though Incyte has hopes of improving on its blockbuster JAK inhibitor Jakafi with the JAK2 V617F mutation-selective INCB160058, at the same time it appears to be hedging its bets. On Tuesday Incyte gained an option to acquire Prelude Therapeutics’ JAK2 V617F inhibitor programme, for $35m in up-front cash and a $25m equity investment. Incyte will pay $100m if it exercises the option. The move might signal a lack of confidence in INCB160058, whose phase 1 readout has been pushed back from 2025 to the first half of 2026. Still, Prelude’s project looks well behind, still being at the preclinical stage. There are only a handful of other JAK2 V617F inhibitors in development, according to OncologyPipeline, with preclinical assets also being developed by Cogent and Eilean Therapeutics. Incyte has more shots at defending its myelofibrosis franchise, for example with INCA033989, an antibody against mutated CALR protein, which recently showed early promise in essential thrombocythemia; initial data in myelofibrosis, with an without Jakafi, are due at ASH in December. The group is also developing an anti-mutCALR T-cell engager, INCA035784, which recently entered phase 1. Incyte will need something else to pick up the slack fairly soon: Jakafi could face generic competition in 2028.

JAK2 V617F inhibitors in development

Note: *binds to both JAK2 & JAK2 V617F. Source: OncologyPipeline.