07.23.13
Galapagos NV has achieved a late stage discovery milestone for small molecules against a novel target in the osteoarthritis (OA) alliance with Servier. As a result, Galapagos will receive approximately $4 million.
The two companies entered the alliance in July 2010 to develop new oral OA medicines. Galapagos is responsible for the discovery and development of new candidates and Servier has an exclusive option to license these candidates following Phase I trials. Galapagos is eligible to receive as much as $382 million in success-based milestones, plus royalties on sales. Galapagos also retains exclusive U.S. commercialization rights to compounds developed under the collaboration.
"Galapagos already delivered multiple compounds against different OA targets into late discovery and selected a preclinical candidate last year. Today's achievement is consistent with our strategy to move multiple, novel mechanism-of-action programs toward the clinic, thereby increasing the chances of success in disease areas with high unmet medical needs," said Onno van de Stolpe, chief executive officer of Galapagos.
The two companies entered the alliance in July 2010 to develop new oral OA medicines. Galapagos is responsible for the discovery and development of new candidates and Servier has an exclusive option to license these candidates following Phase I trials. Galapagos is eligible to receive as much as $382 million in success-based milestones, plus royalties on sales. Galapagos also retains exclusive U.S. commercialization rights to compounds developed under the collaboration.
"Galapagos already delivered multiple compounds against different OA targets into late discovery and selected a preclinical candidate last year. Today's achievement is consistent with our strategy to move multiple, novel mechanism-of-action programs toward the clinic, thereby increasing the chances of success in disease areas with high unmet medical needs," said Onno van de Stolpe, chief executive officer of Galapagos.