Incyte Completes Acquisition of Vega Therapeutics for $1.25B

Incyte completed its acquisition of Vega Therapeutics, a wholly owned subsidiary of Star Therapeutics. The acquisition adds VGA039, a novel monoclonal antibody in Phase 3 development for von Willebrand disease, the most common inherited bleeding disorder, to Incyte's hematology portfolio. VGA039 modulates Protein S to improve hemostasis, potentially improving the body's ability to control bleeding in numerous bleeding disorders. VGA039 is in pivotal Phase 3 development for patients with VWD, the most common inherited bleeding disorder. If approved, VGA039 has the potential to be the first, once monthly subcutaneous prophylactic therapy for patients with VWD, who currently require frequent intravenous infusions. VGA039 has received Breakthrough Therapy, Fast Track, orphan drug and rare pediatric disease designations from the U.S. Food and Drug Administration. VGA039 has advanced into the Phase 3 VIVID-6 study, a global single arm cross-over study to investigate safety and efficacy of the subcutaneous administration of VGA039 as prophylaxis for bleeding in patients with every type of VWD, including those with a high disease burden. As previously disclosed, under the terms of the parties' stock purchase agreement, Incyte has acquired all outstanding shares of Vega Therapeutics, a wholly owned subsidiary of Star Therapeutics, for $1.25B upfront. Star Therapeutics will be eligible to receive up to $750M in additional payments upon the achievement of sales milestones. We expect the transaction to be reflected as a one-time R&D expense in the third quarter and full year 2026 GAAP and non-GAAP financial results.