• 21/03/2012
  • |     BB

Galapagos delivers candidate drug in alliance with Janssen Pharmaceutica

Belgium based biotech company Galapagos identifies pre-clinical compound in its alliance with Janssen Pharmaceutica.

Trefwoorden: #biotech, #galapagos, #Janssen Pharmaceutica

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ENGINEERINGNET.EU -- Today’s pre-clinical candidate was developed by Galapagos against a novel target discovered with Galapagos’ proprietary platform. This achievement triggered a milestone payment of €6.6 million.

The company will now start comprehensive safety evaluation to advance the compound towards Phase I clinical trials.

“Four years into the alliance, we are excited to have delivered the first pre-clinical candidate,” said Onno van de Stolpe, CEO of Galapagos.

“Our alliances with pharma provide financing to survive industry standard attrition and get a certain percentage of programs through to the clinic.”

In October 2007, Galapagos announced an alliance agreement with Janssen Pharmaceutica providing Janssen Pharmaceutica with option rights to acquire worldwide, commercial licenses to certain Galapagos internal programs.

Galapagos is eligible to receive up to €73 million in milestones per program, plus royalties. To date, Galapagos has received €31 million in alliance payments from Janssen Pharmaceutica.


(picture: Galapagos)

BACKGROUNDER
Galapagos is a mid-size biotechnology company specialized in the discovery and development of small molecule and antibody therapies with novel modes-of-action. The Company has one of the largest pipelines in biotech, with four programs in development and over 50 discovery programs. The Galapagos Group has about 800 employees and operates facilities.