Belgian Biotech Passes Go and May Collect €290M for Arthritis Drug’s Progress
Galapagos has received another tranche of €290M in milestones as Servier exercises its option to develop its osteoarthritis candidate, GLPG1972.
Galapagos, the Belgian biotech that made its way onto our list of the largest in Europe, continues to rake in cash from a 2010 deal worth €290M with Servier. Now that its lead candidate for osteoarthritis, GLPG1972, has progressed through Phase I, Galapagos will hand it off to Servier to continue development.
Galapagos boasts a range of not just target indications but also pharma partners. Despite some trouble with AbbVie in a rheumatoid arthritis deal, the collaboration lives on with its sights set on cystic fibrosis. Galapagos has since picked up Gilead as a standin and Pharnext to find improved combination therapies. These partners bring necessary financial and human resources to buttress the Belgian biotech’s rapidly expanding pipeline, though it likely isn’t short of cash after its €315M public offering this spring.
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