Galapagos delivers candidate drug in its alliance with Janssen Pharmaceutica, NV and receives milestone payment
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Galapagos NV announced that it has identified a pre-clinical compound in its alliance with Janssen Pharmaceutica NV. This achievement triggered a milestone payment of €6.6 million to Galapagos.
The pre-clinical candidate was developed by Galapagos against a novel target discovered with Galapagos' proprietary platform. Galapagos will now start comprehensive safety evaluation to advance the compound towards Phase I clinical trials.
"Four years into the alliance, which started at the novel target stage, we are excited to have delivered the first pre-clinical candidate," said Onno van de Stolpe, CEO of Galapagos. "Our alliances with pharma provide financing to survive industry standard attrition and get a certain percentage of programs through to the clinic. In this way, Galapagos continues to build a strong R&D track record by efficiently delivering high quality results, both in its alliance and proprietary therapeutic pipelines."
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