Baker McKenzie client, global biopharmaceutical company, Incyte (Nasdaq: INCY), has announced a strategic collaboration agreement with Genesis Therapeutics for the use of its AI platform, GEMS, for the discovery of novel molecules. The USD 30 million upfront deal includes the use of GEMS to develop small molecule medicines against two Incyte-selected targets in severe disease. Included in the deal is an option to expand to an additional target for an undisclosed supplementary fee. If all milestones are achieved, Genesis is eligible to receive up to USD 295 million in development, regulatory and commercial milestone payments per target.

The partnership offers Incyte the opportunity to leverage GEMS, which is designed to produce novel molecules and predict properties such as potency, selectivity and pharmacokinetics, to accelerate the advancement of critical treatments for patients with severe diseases.

The Baker McKenzie team advising Incyte was led by partners Randall Sunberg (New York) and associate Devin Muntz (Chicago) with assistance from partner Adam Aft (Chicago).

The deal is representative of the breadth and depth of Baker McKenzie’s experience advising healthcare and life sciences companies on their most business critical transactions. As one of the first law firms to advise life sciences corporates on their global expansion 60 years ago, the Firm’s knowledge is rooted in its DNA, with more than 800 dedicated lawyers focused on the sector in more than 45 jurisdictions, including the 10 largest life sciences markets globally.

Baker McKenzie is a transactional powerhouse, with more than 2,500 deal practitioners in 45 jurisdictions offering leading expertise in the areas most critical for our clients. The Firm excels in complex transactions and cross-border deals – over 65% of our deals are multi-jurisdictional.