June 7 (Reuters) - US biotech Incyte Pharma is

nearing a deal for up to $2 billion to buy blood disorder drug

developer Star Therapeutics, the Financial Times reported on

Sunday, citing people familiar with the matter.

The biotechnology company is set to pay $1.25 billion

upfront in cash to Star's venture capital backers and a further

$750 million based on certain performance milestones being met,

the report said.

Reuters could not immediately verify the report.