Incyte To Acquire Escient And Its Assets For $750M Plus Escient's Net Cash Remaining At The Close Of The Transaction, Subject To Customary Adjustments
Portfolio Pulse from Charles Gross
Incyte (NASDAQ:INCY) has agreed to acquire Escient Pharmaceuticals and its assets, including novel small molecule therapeutics EP262 and EP547, for $750 million plus Escient's net cash at closing, subject to adjustments. The deal, awaiting Hart-Scott-Rodino Act clearance, is expected to close by Q3 2024.
April 23, 2024 | 11:08 am
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Incyte's acquisition of Escient Pharmaceuticals for $750M plus net cash aims to enhance its drug portfolio with EP262 and EP547, targeting systemic immune and neuro-immune disorders.
The acquisition of Escient Pharmaceuticals by Incyte is likely to be viewed positively by investors, as it expands Incyte's portfolio into novel therapeutic areas with significant market potential. The addition of EP262 and EP547 could provide new revenue streams and enhance Incyte's research and development capabilities. The deal's completion is anticipated by Q3 2024, subject to regulatory approval, indicating a strategic move to strengthen Incyte's position in the biotech industry.
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