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Incyte to Outlicense CCR5 Antagonist
 
 
  FOR IMMEDIATE RELEASE
Pamela M. Murphy
Vice President, Investor Relations/Corporate Communications 302/498-6944
 
Incyte to Provide Update on Clinical Programs at Cowen Health Care Conference
 
A live and archived copy of the presentation will be available on Incyte's website on March 17, 2008, at 3:15 pm ET
 
WILMINGTON, DE., March 17, 2008 -- Incyte Corporation (Nasdaq: INCY) will announce today at the Cowen and Company 28th Annual Health Care Conference results from its initial meeting with the U.S. Food & Drug Administration (FDA) regarding the development of its lead JAK inhibitor, INCB18424, for myelofibrosis.
 
Paul Friedman, M.D., Incyte's President and CEO, stated, "We had a successful meeting with the FDA where we discussed the design of the registration studies of INCB18424 for myelofibrosis. We've reached agreement on the type of endpoints that will support approval and we will not be required to demonstrate improved survival or normalization of cell counts in the blood or bone marrow. Based on the impressive clinical results we continue to see in the ongoing Phase II trial, I firmly believe that the types of primary endpoints discussed are quite achievable. Over the next several months we will select the final dosing regimen and will work with FDA to finalize all aspects of these protocols. We continue to expect to start the registration studies in the fourth quarter of this year."
 
Myelofibrosis is a serious neoplastic condition characterized by bone marrow failure, life-threatening splenic enlargement, and marked constitutional symptoms which adversely affect patients' quality of life. There are currently no approved therapies for use in this disease.
 
During his presentation today, Dr. Friedman will also describe Incyte's decision to not initiate the two six-month Phase IIb trials for its lead CCR5 antagonist, INCB9471, in treatment-experienced HIV patients. Incyte is actively seeking to out license the program.
 
"While we continue to believe INCB9471 has the potential to be the best-in-class CCR5 antagonist, given the rapid growth in our pipeline, it's essential that we focus our resources on programs that have the greatest near-term value. Because development of the CCR5 antagonist is one of our more expensive, time and labor intensive programs, and is now our only HIV product, we have decided not to begin the Phase IIb trials and we are currently looking to out license the program."

 
Dr. Friedman will also provide an overview of the company's other compounds in clinical development.
 
Investors are welcome to listen to a live webcast of Incyte's presentation at the Cowen 28th Annual Health Care Conference at 3:15 pm ET. The presentation can be accessed at www.incyte.com under Investor Relations, Events and Webcasts. A replay of the presentation will be available for 90 days. Investors interested in listening to the live webcast should log on before the start time in order to download any required software.
 
 
 
 
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