Betting on Antibodies Targeting Rare Bleeding Disorders: U.S. Bio Firm Pursues Up to 2 Trillion Won Acquisition

Incyte Corporation (NASDAQ: INCY) has agreed to acquire Vega Therapeutics, a subsidiary of Star Therapeutics, for approximately $1.25 billion in cash plus up to $750 million in revenue‐based milestones, bringing the total deal value to as much as $2 billion (roughly KRW 2.7 trillion).

The acquisition will add VGA039—a Phase 3 monoclonal antibody targeting hemorrhagic disorders such as von Willebrand disease—to Incyte’s hematology pipeline. Approximately $1.25 billion of research and development expenses related to the transaction will be recorded as a one‐time charge in both GAAP and non‐GAAP results in the third quarter of 2026.

The deal is expected to close in the third quarter of 2026, subject to the expiration of the HSR waiting period and customary closing conditions. Incyte plans to hold an analyst and investor call on June 8 to discuss the transaction in detail.

On April 28, Incyte reported its first-quarter 2026 financial results, noting double-digit year-over-year growth in sales of its dermatology therapy Opzelura cream and its hematology and oncology portfolio.

Headquartered in Delaware, Incyte is a biopharmaceutical company focused on blood cancers and immune/inflammatory diseases. Its product portfolio includes Jakafi for myelofibrosis, Opzelura for dermatological conditions, and the immuno-oncology agent Zynyz.