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news.French pharmaceutical company Servier and Galapagos have entered into a multi-year strategic alliance to develop new cancer therapies.
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Galapagos will develop new candidate drugs against the targets.
As per the agreement, Servier can exclusively license each small molecule program after the completion of pre-clinical development by Galapagos, which will receive research access payments of €2m from Servier.
Galapagos is eligible to receive discovery, development, regulatory and other milestone payments up to €260m, plus royalties upon commercialization of products by Servier.
Galapagos CEO Onno van de Stolpe said the two companies will combine both their oncology targets and their capabilities in cancer drug discovery.
"Similar to our osteoarthritis alliance with Servier, Galapagos retains the US rights, which represents a large potential, considering the unmet medical need in cancer," Stolpe added.