Pfizer, Incyte CCR2 antagonist deal

INCY granted PFE an exclusive worldwide license to develop and commercialize INCY's portfolio of CC chemokine receptor 2 ( CCR2) antagonists. INCY will receive an upfront payment of $40 million and research funding, and is eligible for up to $743 million in milestones plus royalties. PFE also will purchase $20 million in convertible subordinated notes from INCY, which will convert into INCY stock at a premium. ...