11:34 AM EST, 02/20/2025 (MT Newswires) -- Incyte ( INCY ) and Genesis Therapeutics said Thursday they have entered into a collaboration to develop new small molecule medicines, starting with targets chosen by Incyte ( INCY ).

The partnership will use Genesis' artificial intelligence platform, GEMS, to discover and improve small molecule compounds for the chosen targets. Incyte ( INCY ) will have exclusive rights to develop and commercialize any products from this collaboration, the companies said.

Genesis will receive an upfront payment of $30 million. The companies will work on two initial targets, with Incyte ( INCY ) having the option to add a third for an additional fee. If all milestones are met, Genesis could receive up to $295 million per target in milestone payments, plus royalties on any approved products, the companies said.

INCY shares were 1.4% higher in recent trading.

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