Incyte

In 1991, Incyte Pharmaceuticals was incorporated, born from the assets of a liquidated biotechnology company. Founded by a team that included Roy A. Whitfield as CEO and scientist Randall W. Scott, the company initially focused on genomics, building a massive database of genetic information for the pharmaceutical industry. A pivotal moment came on November 4, 1993, when Incyte went public, raising $15 million and securing the capital needed to expand its gene sequencing programs. A significant transformation occurred in 2002. Sensing an opportunity after a major acquisition in the pharma space, Incyte relocated to Delaware and pivoted from genomics to drug discovery and development. This new focus culminated in the 2011 FDA approval of its first drug, Jakafi (ruxolitinib), a treatment for a rare blood cancer. This success established Incyte as a serious biopharmaceutical player and remains a cornerstone of its portfolio. The company has since expanded its pipeline through strategic partnerships and acquisitions, including the notable $750 million acquisition of Escient Pharmaceuticals in 2024 to bolster its inflammation and autoimmunity portfolio.