Mutant selective JAK2V617F JH2 inhibitors have disease-modifying potential in treating patients living with myeloproliferative neoplasms (MPNs)
Prelude to receive a $35 million upfront payment and $25 million strategic equity investment, $100 million if Incyte were to exercise the option to acquire the program, and up to $775 million in additional potential milestones plus royalties on net salesPrelude will continue to develop all JAK2V617F program assets during the option period; if optioned, Incyte would lead development and commercialization globally
WILMINGTON, Del., Nov. 04, 2025 (GLOBE NEWSWIRE) -- Prelude Therapeutics Incorporated (NASDAQ:PRLD), a clinical-stage precision oncology company, today announced an exclusive option agreement with Incyte (NASDAQ:INCY) focused on Prelude's previously undisclosed mutant selective JAK2V617F JH2 inhibitor program in development for patients with myeloproliferative neoplasms (MPNs). Per the agreement, Incyte secures an exclusive option to acquire the JAK2V617F program in exchange for an upfront payment and a strategic equity investment in Prelude, plus potential downstream milestones and royalties.
Kris Vaddi, Ph.D., Chief Executive Officer of Prelude stated, "We're pleased to put this agreement in place with Incyte, recognized global leaders in the MPN field. Prelude and Incyte both aim to deliver transformational treatments to improve upon the standard of care established with first generation JAK2 JH1 inhibitors like Jakafi® (ruxolitinib). Our research team made significant progress discovering the first known inhibitors that bind into the JAK2 JH2 ‘deep pocket' where the V617F mutation resides. These potent and orally bioavailable compounds demonstrate mutant specific inhibition and the potential for disease modification in multiple preclinical models of MPNs. Today's agreement with Incyte provides us with the capital needed to advance further our JAK2V617F program, while also allowing us to advance the development of our other pipeline programs."
"The agreement with Prelude provides an opportunity to enhance our robust portfolio of clinical and preclinical JAK2V617F candidates for patients with MPNs," said Bill Meury, President and Chief Executive Officer of Incyte. "This transaction aligns with our strategy to develop new and innovative therapies poised to make a meaningful difference for patients."
Terms of the AgreementUnder the terms of the Transaction Agreement, Incyte secures an exclusive option to acquire Prelude's mutant selective JAK2V617F JH2 inhibitor program, including Prelude's library of preclinical ...
