Incyte’s President to Head New Start-Up

Incyte Genomics Inc. said President Randy Scott will leave the genomics information company to head a new company that plans to provide Incyte’s genetic information over the Internet. Scott, an Incyte founder and chief scientific officer since the company began in 1991, will also become chairman of Incyte’s board, succeeding retiring board Chairman Jeff Collinson. Collinson, a founding investor in the company, will stay on as an Incyte board member. The new company plans to provide genetic information to consumers to help them understand gene-related diseases. Scott, 42, who has served as the Palo Alto company’s president since 1997, will take charge Sept. 1. Incyte has grown into an important player in the genomics information market by developing and selling its gene databases to help drug makers and biotechnology companies make new drugs. The new company is expected to be closely affiliated with Incyte and is likely to be started sometime this fall, the company said. One of the start-up company’s goals is to provide information on gene therapy and clinical trials to patients with serious diseases. Incyte shares fell $6.88 to close at $80.63 on Nasdaq.