Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  FBB2 LLC
 2. Date of Event Requiring Statement (Month/Day/Year)
06/15/2012		 3. Issuer Name and Ticker or Trading Symbol
INCYTE CORP [INCY]
(Last)
(First)
(Middle)
667 MADISON AVENUE, 21ST FLOOR		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY US 10065		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 15,110
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
FBB2 LLC
667 MADISON AVENUE, 21ST FLOOR
NEW YORK, NY US 10065		   X   X    

Signatures

FBB2, LLC, Name: Julian C. Baker, Title: Manager /s/ Julian C. Baker 06/18/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
 
Remarks:
Remarks:

Julian C. Baker and Felix J. Baker are the sole managers of FBB2, LLC ("FBB2") and by virtue of their positions as sole managers have full voting and
investment power over the shares of common stock of Incyte Corporation (the "Issuer") directly held by FBB2. Julian C. Baker and Felix J. Baker have no
pecuniary interest in the shares of common stock of the Issuer directly held by FBB2. Julian C. Baker and Felix J. Baker file Section 16 reports separately but may file jointly with FBB2 in the future. The shares of common stock of the Issuer that are subject to this report were received by FBB2 on June 15, 2012 from a contribution of Issuer common stock by members of FBB2 following a pro rata distribution for no consideration by 667, L.P. conducted on June 7, 2012.

For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, FBB2 is deemed a director by deputization by virtue of its representation on
the Board of Directors of Incyte Corporation.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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