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news.Galapagos has successfully identified a third candidate drug and reached milestones for other compounds in its arthritis alliance with GlaxoSmithKline (GSK). Together, these milestones trigger cash payments totaling EUR5.7m to Galapagos.
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The latest pre-clinical candidate is a small molecule that meets all the chemical and biological criteria set by GSK for a potential new medicine. Galapagos developed the candidate against a new drug target from its proprietary platform. Galapagos will now start scaling-up chemistry and comprehensive safety evaluation, with an aim to initiate Phase I clinical trials early 2011.
Onno van de Stolpe, chief executive officer of Galapagos, said: “We are proud to deliver the third candidate drug in the arthritis alliance with GSK. Multiple candidates provide more shots on goal in terms of getting a drug to the market. It is gratifying that our discovery organization has been so successful in this alliance.”