Incyte Wins $25M Milestone as c-MET Inhibitor INC280 Moves Into Phase II Trial

Incyte Corporation INCY announced today that it has earned a $25.0 million milestone payment from Novartis based on the formal initiation of a Phase II clinical trial evaluating c-MET inhibitor INC280 (formerly INCB28060) as monotherapy in patients with advanced hepatocellular carcinoma. The Phase II trial is being conducted by Novartis as part of a Collaboration and License Agreement, in which Novartis received worldwide exclusive development and commercialization rights to INC280, and certain back-up compounds in all indications. Incyte has the option to co-develop INC280, and to co-detail the compound in the United States.