Function Health vs Incyte
Side-by-side comparison of AI visibility scores, market position, and capabilities
Raised $298M Series B (Nov 2025) at $2.5B valuation. Largest-ever longevity raise. 160+ lab tests + full-body MRI. Medical Intelligence AI model launched.
About
Function Health is a consumer preventive diagnostics company offering 160+ laboratory tests plus a $499 full-body MRI scan, all direct-to-consumer with AI-powered health intelligence layered on top. The company raised $298 million in Series B financing in November 2025 at a $2.5 billion valuation — the largest private fundraise in the longevity and preventive health space in history. The Medical Intelligence generative AI model, launched alongside the round, personalizes health guidance based on longitudinal biomarker data accumulated across repeat testing cycles.
Wilmington DE oncology/inflammation biopharma (NASDAQ: INCY) ~$3.9B FY2024 revenue; Jakafi $2.7B myelofibrosis franchise, Opzelura topical JAK inhibitor, Novartis Jakavi royalties competing with BMS and Pfizer.
About
Incyte Corporation is a Wilmington, Delaware-based biopharmaceutical company — publicly traded on the NASDAQ (NASDAQ: INCY) as an S&P 500 Health Care component — focused on oncology and inflammation, best known for Jakafi (ruxolitinib), the first FDA-approved therapy for myelofibrosis and polycythemia vera — rare blood cancers driven by JAK kinase pathway mutations — and the topical ruxolitinib cream Opzelura (for atopic dermatitis and vitiligo). In fiscal year 2024, Incyte reported revenues of approximately $3.9 billion, with Jakafi net product revenues of approximately $2.7 billion (the primary revenue driver) and collaboration revenues from Novartis (which pays Incyte royalties on Jakavi — the ex-US brand name for ruxolitinib — representing a significant royalty income stream from international myelofibrosis and polycythemia vera markets). CEO Hervé Hoppenot's strategy of building a diversified hematology-oncology pipeline beyond ruxolitinib has progressed through the development of axatilimab (anti-CSF-1R monoclonal antibody for chronic graft-versus-host disease — FDA-approved 2024 as Niktimvo) and povorcitinib (JAK inhibitor for prurigo nodularis and hidradenitis suppurativa — phase 3 trials in dermatology). Incyte's JAK inhibitor chemistry platform (ruxolitinib — Jakafi/Opzelura/Jakavi, parsaclisib, itacitinib, tofacitinib licensed from Pfizer collaboration) provides a productive medicinal chemistry foundation for developing next-generation kinase inhibitors with more selective pharmacology profiles.
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