Innovent Biologics, an SIP-based biotech unicorn listed at Hong Kong Exchanges and Clearing Market in October, and Incyte, an innovative American pharmaceutical company, signed a strategic collaboration and licensing agreement on Dec 19 for three clinical-stage product candidates discovered and developed by Incyte. Under the agreement, Innovent will receive the rights to develop and commercialize Incyte's pemigatinib (FGFR1/2/3 inhibitor), itacitinib (JAK1 inhibitor) and parsaclisib (PI3Kδ inhibitor) in Chinese mainland, Hong Kong, Macao and Taiwan.

The three novel products are expected to dramatically alter the current treatment landscape for patients with intrahepatic cholangiocarcinoma, bladder cancer, graft-versus-host diseases and non-Hodgkin lymphomas. Besides, they will possibly be used together with some of Innovent products to further improve patient outcomes worldwide.

"The collaboration not only strengthens our portfolio by adding three potentially best-in-class clinical-stage targeted therapies, but also proves that Innovent is an ideal partner for world-class pharmaceutical companies coming to China. It is transforming Innovent from a company primarily focused on monoclonal antibodies to one with a broader oncology focus that develops potentially innovative treatments regardless of molecule size," said Dr. Michael DC Yu, founding CEO and president of Innovent.