Galapagos Earns EUR 2mn Partial Milestone From Servier
Galapagos has received EUR 2mn for a partial milestone in its osteoarthritis (OA) alliance with Servier. This payment contributes to Group revenues in 2013.
In July 2010, Servier and Galapagos announced their alliance to develop new oral medicines for the treatment of OA. Galapagos is responsible for the discovery and development of new candidate drugs against novel targets, and Servier has an exclusive option to licence these after the completion of Phase I trials. Galapagos is eligible to receive up to EUR 290mn in success-based milestones, plus royalties on commercial sales. Galapagos also retains exclusive US commercialisation rights to all commercial compounds.
|Companies Involved||Galapagos, Servier|
|Date Last Reported||06/03/2013|
|Agreement Type||Commercialisation, Development, Research|
|Estimated Total Value||>EUR 290mn|
|Investment To Date|
|Therapeutic Area||Anti-inflammatory, Antineoplastic and Immunomodulating Agents|
|Technology/Field||Drug Development, Drug Discovery|
|Related Agreement||Galapagos achieves milestone in Servier OA/oncology alliance|