12 AI Updates Worth Taking a Look At

Page 8 of 11

4. Incyte Corporation (NASDAQ:INCY)

Number of Hedge Fund Holders: 49

Incyte Corporation (NASDAQ:INCY) develops and markets biopharmaceutical treatments for cancer, immune disorders, and other diseases across global markets.

On February 20, Incyte and Genesis Therapeutics formed a collaboration to develop novel small-molecule medicines using AI technology. Genesis will apply its GEMS platform to discover and optimize compounds, while Incyte holds exclusive rights for clinical development and commercialization. Incyte will pay Genesis $30 million upfront, with potential milestone payments of up to $295 million per target and tiered royalties on future sales. The partnership begins with two targets, with Incyte having the option to add a third for an additional fee. The goal is to accelerate drug discovery for severe diseases.

Page 8 of 11