Galapagos NV has delivered a fifth preclinical drug candidate in its alliance with GlaxoSmithKline, triggering a milestone payment to Galapagos. The drug discovery and development alliance dates back to 2006.
"Galapagos has identified five candidate drugs, of which two have been in-licensed by GSK to date," said Onno van de Stolpe, chief executive officer of Galapagos. "We hope that more programs from this alliance may enter the clinic."
Subject to achievement of certain milestones Galapagos has the potential to receive more than $270 million in total milestone payments, as well as royalties. GSK has an exclusive option to further develop and commercialize compounds from the alliance on a worldwide basis.