January 8, 2018 / 1:21 PM / 5 months ago

BRIEF-Incyte Corp - Co, Syros Pharmaceuticals Have Entered Into Target Discovery, Research Collaboration And Option Agreement

Jan 8 (Reuters) - Incyte Corp:

* INCYTE CORP - CO, SYROS PHARMACEUTICALS HAVE ENTERED INTO A TARGET DISCOVERY, RESEARCH COLLABORATION AND OPTION AGREEMENT

* INCYTE-‍UNDER AGREEMENT, SYROS TO USE ITS GENE CONTROL PLATFORM TO IDENTIFY NOVEL THERAPEUTIC TARGETS WITH FOCUS IN MYELOPROLIFERATIVE NEOPLASMS​

* INCYTE - CO TO HAVE EXCLUSIVE WORLDWIDE RIGHTS TO DEVELOP AND COMMERCIALIZE ANY THERAPIES UNDER COLLABORATION THAT MODULATE VALIDATED TARGETS​

* INCYTE - UNDER DEAL, CO TO GET OPTIONS TO GET EXCLUSIVE WORLDWIDE RIGHTS TO INTELLECTUAL PROPERTY FROM COLLABORATION FOR UP TO SEVEN VALIDATED TARGETS

* INCYTE CORP - ‍ UNDER TERMS , CO TO PAY SYROS $10 MILLION UPFRONT AND PURCHASE A TOTAL OF $10 MILLION IN SYROS COMMON STOCK AT $12.61 PER SHARE​

* INCYTE - SHOULD INCYTE EXERCISE ALL OF ITS OPTIONS UNDER DEAL, SYROS COULD GET UP TO $54 MILLION FROM INCYTE IN TARGET SELECTION & OPTION EXERCISE FEES

* INCYTE CORP - SYROS COULD ALSO RECEIVE UP TO $50 MILLION IN DEVELOPMENT AND REGULATORY MILESTONES, AS WELL AS UP TO $65 MILLION IN COMMERCIAL MILESTONES

* INCYTE CORP - SYROS WOULD ALSO BE ELIGIBLE TO RECEIVE LOW SINGLE-DIGIT ROYALTIES ON SALES OF PRODUCTS RESULTING FROM COLLABORATION Source text for Eikon: Further company coverage:

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