WILMINGTON, Del., Oct 20, 2010 (BUSINESS WIRE) --
Incyte Corporation (NASDAQ:INCY) announced today that it has earned a
$19 million dollar milestone payment from Eli Lilly and Company (NYSE:
LLY) based on the initiation of a Phase IIb clinical trial evaluating
INCB28050 for the treatment of rheumatoid arthritis. This trial is being
conducted by Eli Lilly as part of the exclusive worldwide license and
collaboration agreement for Incyte's novel, oral, JAK1 and JAK2
inhibitor. The compound will now be referred to as LY3009104.
About the Phase IIb Clinical Trial
This Phase IIb clinical trial is a global, dose-ranging, study expected
to involve 270 patients with active rheumatoid arthritis and is open to
enrollment via www.ClinTrials.gov
Incyte Corporation is a Wilmington, Delaware-based drug discovery and
development company focused on developing proprietary small molecule
drugs for oncology and inflammation. For additional information on
Incyte, visit the Company's web site at www.incyte.com.
Except for the historical information contained herein, the matters set
forth in this press release, including the statement with respect to the
expected number of patients in the Phase IIb clinical trial, are all
forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially, including the high
degree of risk and uncertainty associated with drug development and
clinical trials, the ability to enroll a sufficient number of patients,
and other risks detailed from time to time in Incyte's filings with the
Securities and Exchange Commission, including its Quarterly Report on
Form 10-Q for the quarter ended June 30, 2010. Incyte disclaims any
intent or obligation to update these forward-looking statements.
Links to third-party websites or pages are provided for convenience
you to consult these policy statements. Incyte has no control over third
party sites and does not endorse or recommend these sites, and expressly
disclaims any responsibility for the accuracy of content or opinions set
forth in any third party website or your use of that information.
SOURCE: Incyte Corporation
Pamela M. Murphy
Vice President, Investor Relations/Corporate Communications