Galapagos receives €4m in milestones from Servier
As part of osteoarthritis alliance signed last year
Belgian biotechnology company Galapagos has reached certain milestones in its osteoarthritis alliance with French pharmaceutical company Servier, which have resulted in payments totalling €4m in 2010.
Servier and Galapagos announced their alliance to develop new medicines for the treatment of osteoarthritis last July. Galapagos is responsible for the discovery and development of new candidate drugs and Servier has an exclusive option to license these after the completion of Phase I clinical trials by Galapagos.
To date, Galapagos has received b11m in payments from Servier under the alliance.
‘We are delighted to reach the first milestones in the osteoarthritis alliance with Servier just six months after initiating the alliance,’ said Onno van de Stolpe, ceo of Galapagos.
The alliance builds on novel osteoarthritis drug targets discovered by Galapagos through its proprietary platform. For any marketed products, Servier will have the rights to development, registration and commercialisation, but Galapagos retains exclusive US rights.
Galapagos is also eligible to receive discovery, development, regulatory and other milestone payments that could reach €290m.