Roche in discovery deals
Roche (SIX:ROG;OTCQX:RHHBY) announced a pair of deals on Monday, including one with Galapagos N.V. (Euronext:GLPG; Pink:GLPYY) to discover and develop compounds for chronic obstructive pulmonary disease. Galapagos will be responsible for the discovery of COPD targets and small molecules against the targets. Roche will have exclusive options to license each compound after candidate selection or the completion of Phase I testing. The pharma also has an exclusive option to license the COPD targets to develop antibodies against them. Roche will be responsible for any further development and commercialization if the options are exercised. Galapagos received EUR 6 million ($8.7 million) up front and is eligible for milestone payments that could exceed EUR 400 million ($580.6 million), plus royalties. Galapagos was up EUR 0.56 to EUR 9.05 on Monday. ...