Galapagos Achieves Milestone Payment in Rheumatoid Arthritis Alliance
News Jun 03, 2009
Galapagos NV announced has achievement of a milestone under its alliance agreement in rheumatoid arthritis with Janssen Pharmaceutica NV. The milestone triggered a cash payment of €3.4 million to Galapagos.
In October 2007, Galapagos announced an alliance agreement with Janssen providing Janssen with option rights to acquire worldwide, commercial licenses to novel small molecules from up to 12 of Galapagos' internal programs involving rheumatoid arthritis therapeutic targets. The milestone is the result of one of these programs reaching the next phase of medicinal chemistry optimization.