Incyte and Genesis Therapeutics Announce Strategic AI-focused Research Collaboration

• Incyte and Genesis will leverage Genesis’ GEMS artificial intelligence (AI) platform to unlock the discovery of breakthrough small molecule therapeutics against Incyte-selected targets
• Incyte receives exclusive rights to develop and commercialize collaboration products

Incyte and Genesis Therapeutics Announce Strategic AI-focused Research Collaboration

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Incyte (Nasdaq:INCY) and Genesis Therapeutics, Inc. announced today that the companies have entered into a strategic collaboration focused on the research, discovery and development of novel small molecule medicines, with an initial focus on collaboration targets selected by Incyte.

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Genesis is pioneering generative and predictive artificial intelligence (AI) technologies to help create therapeutics for challenging targets. Utilizing Genesis’ proprietary AI platform, GEMS (Genesis Exploration of Molecular Space), the partnership will pursue the discovery and optimization of small molecule compounds for the collaboration targets. Incyte is granted exclusive rights for potential clinical development and commercialization of collaboration products.

“As a leader in pharmaceutical innovation, Incyte is continually seeking new technologies that can transform how new medicines are discovered and developed,” said Pablo J. Cagnoni, M.D., President and Head of Research and Development at Incyte. “Partnering with Genesis Therapeutics presents a unique opportunity to leverage their AI technologies to accelerate the discovery of breakthrough small molecules for high-impact targets in our pipeline.”

“AI has the potential to redefine how we discover small molecule medicines, and our team is at the forefront of this revolution,” said Evan Feinberg, Ph.D., Founder and Chief Executive Officer of Genesis. “We are pleased to establish this world-class partnership to combine our GEMS AI platform with Incyte’s deep expertise and track record in drug discovery and development, with the shared goal of advancing critical treatments for patients with severe diseases.”

Terms of the Agreement

Under the terms of the agreement, Genesis will receive an upfront payment of $30 million. Genesis and Incyte have agreed to collaborate on two initial targets, and Incyte will have the option to nominate an additional target for a predetermined fee. If all milestones are achieved, Genesis is eligible to receive up to $295 million in development, regulatory and commercial milestone payments per target. Genesis is also eligible to receive tiered royalties on sales of any collaboration products, once approved.

About Genesis Therapeutics

Genesis Therapeutics, Inc. is an AI-focused biotechnology company leveraging its generative and predictive AI platform, GEMS (Genesis Exploration of Molecular Space), for small molecule drug discovery. GEMS integrates proprietary AI methods, including language models, diffusion models and physical simulation, to generate and optimize molecules for complex targets. Genesis has raised over $300 million from leading life science, tech, and AI-focused investors, and is building a therapeutics pipeline for a variety of high-impact targets. Genesis is headquartered in Burlingame, CA, with a fully integrated laboratory in San Diego. For more information on Genesis, please visit the company’s website at www.genesistherapeutics.ai.

About Incyte

A global biopharmaceutical company on a mission to Solve On., Incyte follows the science to find solutions for patients with unmet medical needs. Through the discovery, development and commercialization of proprietary therapeutics, Incyte has established a portfolio of first-in-class medicines for patients and a strong pipeline of products in Oncology and Inflammation & Autoimmunity. Headquartered in Wilmington, Delaware, Incyte has operations in North America, Europe and Asia.

For additional information on Incyte, please visit Incyte.com or follow us on social media: LinkedIn, X, Instagram, Facebook, YouTube.

Incyte Forward-Looking Statements

Except for the historical information set forth herein, the matters set forth in this press release, including statements regarding the potential of the products arising from the collaboration with Genesis Therapeutics, contain predictions, estimates and other forward-looking statements.

These forward-looking statements are based on Incyte‘s current expectations and are subject to risks and uncertainties that may cause actual results to differ materially, including unanticipated developments in and risks related to: unanticipated delays; further research and development and the results of clinical trials possibly being unsuccessful or insufficient to meet applicable regulatory standards or warrant continued development; the ability to enroll sufficient numbers of subjects in clinical trials; determinations made by regulatory authorities; Incyte‘s dependence on its relationships with its collaboration partners; the efficacy or safety of Incyte‘s products and the products of Incyte‘s collaboration partners; the acceptance of Incyte‘s products and the products of Incyte‘s collaboration partners in the marketplace; market competition; sales, marketing, manufacturing and distribution requirements; and other risks detailed from time to time in Incyte‘s reports filed with the Securities and Exchange Commission, including its annual report and its quarterly report on Form 10-Q for the quarter ended December 31, 2024. Incyte disclaims any intent or obligation to update these forward-looking statements.

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