Prelude Therapeutics Signs Exclusive Option Agreement With Incyte For Mutant-Selective JAK2V617F Inhibitor Program

Prelude Therapeutics Incorporated (Nasdaq: PRLD), a precision oncology company in the clinical stage, has entered into an exclusive option agreement with Incyte (Nasdaq: INCY) for its mutant-selective JAK2V617F JH2 inhibitor program. The program is being developed for patients with myeloproliferative neoplasms (MPNs), a group of blood cancers driven by JAK2 mutations. Under the agreement, Incyte will make an upfront payment and strategic equity investment in Prelude, with the option to acquire the program later, in addition to potential milestone and royalty payments.

Dr. Kris Vaddi, CEO of Prelude, stated that this collaboration marks an important milestone in advancing their JAK2V617F program, which targets the “deep pocket” of the JAK2 JH2 domain where the V617F mutation occurs. The novel inhibitors developed by Prelude are orally bioavailable and show strong mutant-specific activity with potential disease-modifying effects in preclinical MPN models. Vaddi added that the partnership with Incyte will provide financial strength to continue developing this program and further expand Prelude’s oncology pipeline.

Incyte’s President and CEO, Bill Meury, commented that the agreement complements Incyte’s existing portfolio of JAK2V617F candidates and reinforces the company’s goal of creating innovative treatments for MPN patients. The deal aligns with Incyte’s long-term strategy to enhance therapeutic options in hematologic malignancies and advance precision medicine in oncology.