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news.Galapagos has received €3.5m in milestone under an alliance with Servier to develop new medicines for the treatment of osteoarthritis (OA).
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As per the partnership deal, Galapagos is responsible for the discovery and development of new candidate drugs, and Servier has an exclusive option to license the drugs after the completion of Phase I clinical trials.
The collaboration formed in 2010 builds on osteoarthritis drug targets discovered by Galapagos through its proprietary platform.
Upon commercialization of products outside the US, Galapagos is eligible to receive discovery, development, regulatory and other milestone payments that could reach €290m plus royalties.
Servier Discovery Research head Bernard Marchand said the milestone achievement is in line with Servier’s commitment to develop disease-modifying drugs for sufferers of uncured diseases, such as OA.
Galapagos is a mid-size biotechnology company specialized in the discovery and development of small molecule and antibody therapies.