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news.Belgium-based biotech firm Galapagos has entered into a global collaboration agreement with Eli Lilly and Company to develop potential new medicines for the treatment of osteoporosis.
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Galapagos will receive E3 million upfront payment from Lilly. Contingent on achieving certain milestones, Galapagos is eligible for each target program to receive up to E88 million in discovery, development and regulatory milestones. Should a product be commercialized, Galapagos could receive up to E130 million of one-time sales milestones and up to double-digit royalties on worldwide sales of alliance products.
Using its proprietary SilenceSelect and FLeXSelect platforms, Galapagos has discovered and validated novel osteoporosis targets that may play a key role in bone formation. The agreement provides Lilly access to 12 of these proprietary osteoporosis targets and drug discovery programs to discover candidate drugs.
Galapagos will be responsible for the development of drug candidates potentially through to phase IIa clinical proof of concept. Under the terms of the agreement, Lilly will have the exclusive option to further develop and commercialize these candidates on a worldwide basis. Galapagos will have the right to further develop and commercialize compounds for which Lilly does not exercise its option.