Incyte Expands Portfolio with $750 Million Acquisition of Escient, a Pioneer in Immune and Neuro Biotechnology

1. Incyte, a leading biopharmaceutical company, has announced a $750 million deal to acquire Escient Pharmaceuticals, a biotechnology company specializing in immune and neuro biotechnology.

2. Escient is known for its focus on G protein-coupled receptors (GPCRs), which are crucial targets for various diseases, including immune and neurological disorders.

3. The acquisition will allow Incyte to expand its portfolio and strengthen its position in the immune and neuro biotechnology sectors, with the potential to develop new therapeutics for a range of diseases.

4. Escient's expertise in GPCRs will complement Incyte's existing capabilities, enabling the combined entity to accelerate drug discovery and development efforts.

5. The deal is expected to close in the second quarter of 2023, subject to customary closing conditions and regulatory approvals.

6. Upon completion of the acquisition, Incyte will gain access to Escient's pipeline of preclinical and clinical-stage drug candidates, as well as its proprietary GPCR-focused drug discovery platform.

7. The acquisition is part of Incyte's broader strategy to invest in innovative biotechnology companies and expand its presence in key therapeutic areas.

8. The deal is expected to create significant value for Incyte shareholders, as the company aims to leverage Escient's expertise to drive long-term growth and profitability.