Incyte and Calithera entered a global collaboration and license agreement for CB-1158, a first-in-class oral small-molecule arginase inhibitor. Calithera received $53M upfront ($45M cash + $8M equity), plus up to $750M in development, regulatory and sales milestones; 70/30 global development cost split (Incyte/Calithera) with 60/40 U.S. profit share. Strategic intent: combine with anti-PD-1 to overcome arginine-mediated immunosuppression.