Core Insights - Prelude Therapeutics has entered into an exclusive option agreement with Incyte for the acquisition of its mutant selective JAK2V617F JH2 inhibitor program, which has potential in treating myeloproliferative neoplasms (MPNs) [1][2][3] - The agreement includes a $35 million upfront payment, a $25 million strategic equity investment, and potential future payments totaling up to $910 million, including milestones and royalties [1][4] Agreement Details - Incyte will secure an exclusive option to acquire Prelude's JAK2V617F program for $100 million during the option period [3][4] - Prelude will receive a total of $60 million in capital, which includes the upfront payment and equity investment, to advance its JAK2V617F program and other pipeline assets [3][4] - If Incyte does not exercise its option, Prelude retains full ownership of the JAK2V617F program [5] Program Significance - The JAK2V617F mutation is a key driver in the progression of MPNs, affecting approximately 95% of patients with polycythemia vera, 60% with essential thrombocythemia, and 55% with myelofibrosis [6][7] - Prelude has developed novel allosteric inhibitors that specifically target the JAK2 JH2 'deep pocket' where the V617F mutation resides, showing promise in preclinical models [7] Future Developments - Prelude aims to advance the JAK2V617F program to predefined milestones, with the first program data set to be presented at the American Society of Hematology (ASH) Annual Meeting in December 2025 [7]