Incyte and Calithera Biosciences will work together to develop Calithera’s small-molecule arginase inhibitor CB-1158. Incyte will pay Calithera $45 million up front and make an $8 million equity investment. Calithera could receive up to $750 million in milestone payments. The molecule is being tested alone in early-stage hematology and oncology trials. The companies also expect to explore its use in combination with immuno-oncology agents such as anti-PD-1 therapies.