Galapagos of Belgium says it has reached milestones in its osteoarthritis alliance with Servier, resulting in a payment of 4 million euros from the French drugmaker.
In July 2010, teamed up for a collaboration that could be worth around 300 million euros to the Mechelen-based group. which is responsible for the discovery and development of new candidate drugs. Servier has an exclusive option to license these after the completion of Phase I trials.
Galapagos chief executive Onno van de Stolpe said the company has achieved “multiple milestones, including optimisation of a molecule against a novel OA target coming from our discovery platform”. He declared that “success like this continues to help us finance multiple shots on goal with novel proprietary targets in a number of disease areas”.
In October, the companies initiated a second alliance, in oncology, whereby Galapagos will get research access fees of 2 million euros and various other milestone payments that could reach260 million euros, plus royalties.
