Incyte has agreed to acquire Vega Therapeutics in a deal valued at $1.25 billion upfront, positioning Vega’s Phase III von Willebrand disease asset VGA039 as a potential next growth driver as Incyte faces Jakafi patent pressure. Vega’s VGA039 is an investigational monoclonal antibody designed to modulate Protein S to improve hemostasis. The transaction includes $750 million in additional payments tied to sales milestones, with closing expected in the third quarter of 2026 subject to customary conditions and regulatory requirements. Incyte will acquire all outstanding shares of Vega under the stock purchase agreement. VGA039 is in Phase III development (NCT07115004) and is designed for subcutaneous, once-monthly prophylaxis, aiming to reduce the infusion burden associated with current factor replacement regimens. The program has received multiple FDA designations including Breakthrough Therapy, Fast Track, Orphan Drug, and Rare Pediatric Disease status. Incyte framed the acquisition as a strategic hematology bet to help build a post-Jakafi franchise, while Vega executives said the dosing convenience and broad applicability across von Willebrand disease types could materially shift standard of care if pivotal data hold up.