Benzinga | Aug 17, 2021 06:37AM EDT

Incyte Out Licenses Lymphoma Drug To InnoCare In Greater China

* Incyte Corporation (NASDAQ:INCY) and InnoCare have entered into a collaboration and license agreement to develop and commercial tafasitamab in Greater China.

* Under the terms of the agreement, InnoCare will pay $35 million upfront.

* Incyte is eligible to receive up to an additional $82.5 million milestone payments.

* InnoCare will receive the rights to develop and exclusively commercialize tafasitamab in hematology and oncology in mainland China, Hong Kong, Macau, and Taiwan.

* In 2010, MorphoSys AG (NASDAQ:MOR) licensed exclusive worldwide rights to develop and commercialize tafasitamab from Xencor Inc (NASDAQ:XNCR).

* In January 2020, MorphoSys and Incyte entered into a licensing agreement to develop and commercialize tafasitamab globally.

* Tafasitamab is a humanized Fc-modified cytolytic CD19 targeting monoclonal antibody.

* Price Action: INCY shares closed 0.71% higher at $73.99 on Monday.