UPJOHN's "INCYTE"-FUL INVESTMENT IN LIFESEQ GENOMICS DATABASE
Executive Summary
UPJOHN's "INCYTE"-FUL INVESTMENT IN LIFESEQ GENOMICS DATABASE will cost the company $20 mil. under an agreement announced Dec. 1. The Upjohn entrance into gene therapy includes a $10 mil. fee for a non-exclusive subscription to Incyte's human genomics database and access to its high-throughput gene sequencing technology, and $10.1 mil. for a 10% equity stake in the Palo Alto, Calif.-based firm. Upjohn is purchasing 791,000 shares of Incyte common stock at $12.75 per share and will make milestone and royalty payments to Incyte on therapies issuing from their collaboration.