Galapagos Delivers Third Candidate Drug in GSK Alliance, Receives €5.7 Million
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Galapagos NV has announced that it has successfully identified a third candidate drug in its arthritis alliance with GlaxoSmithKline (GSK). Galapagos also reached milestones for other compounds in the alliance. Together, these milestones trigger cash payments totaling €5.7 million to Galapagos.
This 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 novel drug target from its proprietary platform. Galapagos will now start scale-up chemistry and comprehensive safety evaluation, with the aim to initiate Phase I clinical trials early 2011.
"We are proud to deliver the third candidate drug in the arthritis alliance with GSK," said Onno van de Stolpe, Chief Executive Officer of Galapagos. "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."
This 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 novel drug target from its proprietary platform. Galapagos will now start scale-up chemistry and comprehensive safety evaluation, with the aim to initiate Phase I clinical trials early 2011.
"We are proud to deliver the third candidate drug in the arthritis alliance with GSK," said Onno van de Stolpe, Chief Executive Officer of Galapagos. "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."
