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Incyte's former founders to start new biotech company


Former founders of Wilmington-based biotech company Incyte have filed with the United States Securities and Exchange Commission to start a new company in Newark.


The company will be called Prelude Therapeutics Inc and will specialize in developing new medicines that can treat cancer and rare diseases by targeting chromatin function.


Incyte is a biopharmaceutical research company driven by science to uncover new molecules to improve health.


Information from a form the parties filed with SEC shows former Incyte Vice President Kris Vaddi declined to disclose a revenue range.


Vaddi, who left Incyte in 2014, said he did not wish to comment.


"For competitive reasons, we want to be dormant," Vaddi said.