Under the terms of the collaboration, Galapagos will receive an upfront payment of $400,000 and may receive research funding to support Bausch & Lomb’s further development of the compounds for ophthalmic uses, plus future milestone payments. Pending successful development and commercialization under the license, potential total value of the payments exceeds $50 million, plus royalties on the commercial sale of licensed products.
Praveen Tyle, chief scientific officer of Bausch & Lomb, said: “The agreement provides access to a group of compounds that may have excellent development candidate potential. The small molecule compounds under evaluation have very attractive in vitro and in vivo profiles. Our intent is to develop these compounds as unique therapies, tapping our research expertise in ophthalmic diseases.”