Incyte has struck a deal to buy a Star Therapeutics subsidiary for $1.25 billion upfront. The takeover, the biggest bet of Bill Meury’s time as CEO, covers a late-phase bleeding disorder drug candidate that could support Incyte’s ambition to grow through the loss of patent protection for Jakafi in 2028.
Vega Therapeutics, the Star subsidiary that Incyte is acquiring, began a phase 3 study of VGA039 in von Willebrand disease (VWD) in October. VGA039 is a monoclonal antibody that modulates the activity of Protein S (PS). By inhibiting PS without depleting the protein, VGA039 could increase the generation of a critical enzyme in the clotting process to restore hemostasis.
Incyte is paying $1.25 billion upfront and committing up to $750 million in sales milestones to acquire Vega. The deal reflects the potential for VGA039 to improve the options available to VWD patients, who are currently served by Takeda’s Vonvendi, and to expand into other bleeding disorders.
VGA039 could be “highly accretive to sales and growth post ‘29, with approximately $1 billion or more in net sales potential,” Meury said on a conference call with investors to discuss the deal. With the phase 3 trial scheduled to finish in 2028, per ClinicalTrials.gov, the R&D timeline positions VGA039 to start adding to Incyte’s growth later this decade as Jakafi faces potential erosion.
The FDA approved Vonvendi in 2015. As a recombinant von Willebrand factor, Vonvendi is used for the on-demand treatment and control of bleeding episodes and routine prophylaxis to reduce the frequency of bleeding episodes. Patients receive twice-weekly Vonvendi infusions for prophylactic treatment.
VGA039 is administered subcutaneously and, based on phase 1/2 studies, can be given every four weeks. Vega reported (PDF) a median bleed reduction of 81% in eight VWD patients in its early-phase program. The annualized bleeding rate dropped 75% and 100% in two patients who switched from intravenous prophylaxis to VGA039.
Meury called the early data “compelling” in a statement about the deal. As a phase 3 asset supported by promising early data, VGA039 fits the profile that Meury has sketched out when discussing what Incyte will buy under his leadership. Meury, who became CEO last year, also noted VGA039’s “manageable development path” and the potential to become a growth driver in a core therapeutic area for Incyte.
VGA039 could be for VWD what Roche’s Hemlibra has been for hemophilia A, Meury said on the call. The CEO sees VGA039 as the potential standard of care for a sizable, underserved patient population. Incyte is targeting the 7,000 to 10,000 VWD patients in the U.S. who have severe, frequent bleeding and are eligible for intravenous prophylaxis.