Incyte and Genesis Molecular AI Expand Collaboration

Incyte and Genesis Expand Molecular AI Collaboration to Accelerate Drug Discovery

• The expanded agreement is one of the first major Pharma-AI collaborations to power large-scale foundation model training with a partner's proprietary experimental data
• Incyte data will be securely used to train Genesis’ next-generation GEMS AI platform as part of Incyte’s efforts to speed up drug development across multiple programs
• Genesis to receive $120M with potential for success-based milestone payments and royalties

‍

WILMINGTON, Del. & SAN MATEO, Calif., – May 20, 2026 – Incyte (Nasdaq:INCY) and Genesis Molecular AI today announced a significant expansion of their strategic collaboration building and deploying state-of-the-art AI to accelerate the discovery of novel molecules for collaboration targets selected by Incyte. The expanded agreement is among the first major pharma-AI collaborations to power large-scale foundation model training with a partner's proprietary experimental data.

Building on the companies' initial collaboration announced in February 2025, the expanded agreement broadens the deployment of Genesis’ AI platform, GEMS (Genesis Exploration of Molecular Space) – which includes the leading foundation models for protein-ligand structure and property prediction – across a wider variety of challenging targets in Incyte’s portfolio. Incyte will also share proprietary experimental data with Genesis to enhance GEMS’ capabilities.

“This expanded collaboration reflects the strong results from our initial programs and Incyte’s commitment to applying advanced technologies to enhance our discovery engine and accelerate the development of differentiated small molecule medicines,” said Pablo J. Cagnoni, M.D., President and Head of Research and Development at Incyte. “By combining our deep expertise in drug discovery and development and our significant experimental data with Genesis' AI capabilities, we aim to more efficiently advance priority programs against high-value targets and ultimately bring important new medicines to patients."

“Our partnership with Incyte reflects the exciting synergy between our AI platform and Incyte’s deep expertise and capabilities in rapid experimental data generation and marks an important moment in the evolution of AI in this vertical,” said Evan Feinberg, Ph.D., Founder and Chief Executive Officer of Genesis. “High-quality proprietary data is among the most valuable inputs for advancing molecular AI, and our expanded collaboration will enable both companies and patients to benefit from an industrial-scale flywheel of AI-enabled design-make-test cycles."

Terms of the Agreement

Genesis will receive total upfront consideration of $120 million, which includes an $80 million upfront cash payment and a $40 million purchase of equity in Genesis. In addition, Incyte will also provide recurring research funding to Genesis to support AI model training and inference compute workloads.

The companies will add at least five new collaboration targets selected by Incyte, and Incyte will have options to nominate additional collaboration targets over time. Incyte will have exclusive rights to develop and commercialize any collaboration products.

Genesis will be eligible to receive potential preclinical and clinical development, regulatory and sales milestone payments of up to $232M for each program contingent on the achievement of agreed upon milestones. Genesis will be eligible to receive over $1 billion if all milestones are achieved across the five initial collaboration targets, including multiple indications and major territories, provided the aggregate peak annual net sales of the five products exceed specified milestones. Additional payments totaling several billion could be earned depending on the number of additional collaboration targets nominated and the achievement of related milestones. Genesis is also eligible to receive royalties on sales of any approved collaboration products.

About Incyte®

Incyte is redefining what’s possible in biopharmaceutical innovation. Through deep scientific expertise and a relentless focus on patients, we have built an established portfolio of first-in-class medicines and an extensive pipeline of next-generation medicines across our key franchises: Hematology, Oncology and Inflammation and Autoimmunity.

To learn more, visit Incyte.com and Investor.Incyte.com. Follow us on social media: LinkedIn, X and Instagram.

About Genesis Molecular AI

Genesis Molecular AI, Inc. is pioneering foundation models for molecular AI to unlock a new era of agentic drug design and development. The company’s generative and predictive AI platform, GEMS (Genesis Exploration of Molecular Space), integrates AI and physics into industry-leading models to generate and optimize drug molecules, including the breakthrough generative diffusion model Pearl for structure prediction. Genesis is backed by premier AI and life science investors, including a16z, NVIDIA, Rock Springs Capital, Menlo Ventures, T. Rowe Price, Fidelity, and Radical Ventures.

Genesis is headquartered in the San Francisco Bay Area, with locations in San Diego and New York. Learn more at genesis.ml or follow us on LinkedIn.

Incyte Forward-Looking Statements

Except for the historical information set forth herein, the matters set forth in this press release, including statements regarding Incyte’s expectations for its collaboration with Genesis, the potential for the collaboration to enhance Incyte’s discovery engine and accelerate the development of differentiated small molecule medicines, and Incyte’s expectation that the collaboration will further its aim to advance priority programs more efficiently and ultimately bring important new medicines to patients, contain predictions, estimates and other forward-looking statements.

These forward-looking statements are based on Incyte‘s current expectations and are subject to risks and uncertainties that may cause actual results to differ materially, including unanticipated developments or outcomes in research and development, the sufficiency of clinical trial data to meet applicable regulatory standards or warrant continued development, the ability to enroll sufficient numbers of subjects in clinical trials, determinations made by regulatory authorities, Incyte‘s dependence on its relationships with its collaboration partners, the efficacy or safety of Incyte‘s products, the acceptance of Incyte‘s products in the marketplace; market competition; sales, marketing, manufacturing and distribution requirements; and other risks detailed from time to time in Incyte‘s reports filed with the Securities and Exchange Commission, including its annual report on Form 10-K and its report on Form 10-Q for the quarter ended March 31, 2026. Incyte disclaims any intent or obligation to update these forward-looking statements.

‍

Incyte Contacts

Media
‍media@incyte.com‍

Investors
ir@incyte.com

‍

‍Genesis Contacts

Media
Thermal for Genesis
press@genesis.ml

Investors
Carl Tilbury
Vice President, Business Development
carl@genesis.ml