Incyte gets payment from CMS Skinhealth for povorcitinib commercialization

Incyte and China Medical System Holdings are pleased to announce that on March 31 Incyte and CMS, through a wholly-owned dermatology medical aesthetic subsidiary of the Company or CMS Skinhealth, entered into a Collaboration and License Agreement for the development and commercialization of povorcitinib a selective oral JAK1 inhibitor, to research, develop, register and commercialize the Product in Mainland China, Hong Kong, Macao, Taiwan Region and eleven Southeast Asian countries and a non-exclusive license to manufacture the Product in CMS’ Territory. Under the terms of the agreement, CMS will make an upfront payment to Incyte and Incyte is eligible to receive additional potential development and commercial milestones and royalties on net sales of the licensed product in CMS’ territory. CMS will receive an exclusive license to develop and commercialize and a non-exclusive license to manufacture povorcitinib in autoimmune and inflammatory dermatologic diseases, including non-segmental vitiligo, hidradenitis suppurativa prurigo nodularis , asthma and chronic spontaneous urticaria, for patients in mainland China, Hong Kong, Macau, Taiwan and certain countries in Southeast Asia. “We are excited to announce the addition of this collaboration for povorcitinib, expanding our relationship with CMS in the Dermatology space beyond ruxolitinib cream, to include two products with the potential to help patients with limited treatment options,” said Herve Hoppenot, Chief Executive Officer, Incyte. “There remains a significant need for new, innovative treatment for vitiligo and other immune-mediated dermatologic conditions, and we look forward to working together with the CMS team to bringing these products to market in China.” Mr. Huang Anjun, the general manager of CMS Skinhealth, stated that, “We expect that this collaboration will enhance CMS Skinhealth’s portfolio of potential treatments for vitiligo that, if approved, will provide differentiated treatment options for vitiligo patients in China. Upon approval, povorcitinib is poised to synergize with the innovative drugs in the commercialization stage of our pipeline Ilumetri original/drugs including Hirudoid and Aethoxysklerol in terms of our network and market resources, which will help the Product to realize its clinical and commercial value.” The transaction is effective immediately upon the execution of the Collaboration and License Agreement.