logo-loader

Incyte collects $19m from partner Eli Lilly as it begins phase IIb trial for rheumatoid arthritis drug

Published: 15:50 20 Oct 2010 EDT

no_picture_pai

Drug development company Incyte Corporation (NASDAQ:INCY) said Wednesday it earned a $19 million milestone payment from Eli Lilly (NYSE:LLY), as it initiated a phase IIb clinical trial for a drug compound used to treat rheumatoid arthritis.

The 270-patient trial of INCB28050 is being conducted by Eli Lilly as part of the exclusive worldwide license and collaboration agreement for Incyte's oral JAK1 and JAK2 inhibitor. The compound will from now on be referred to as LY3009104.

Wilmington, Delaware-based Incyte is focused on developing proprietary small molecule drugs for oncology and inflammation.

Coinsilium CEO Eddy Travia discusses Byzant and the future of Web3 social media

Coinsilium Group Limited (AQSE:COIN, OTCQB:CINGF) CEO Eddy Travia provides an update on Byzance, a Web3 social network ecosystem project, in an interview with Proactive's Stephen Gunnion. Travia explained that Web3 represents the next stage of the internet, aiming to decentralise social...

2 hours, 1 minute ago