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 […]
Health
Incyte nears up to $2 billion deal for blood disorder biotech Star, FT reports
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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.
(Reporting by Preetika Parashuraman in BengaluruEditing by Tomasz Janowski)