Galapagos, Eli Lilly in osteoporosis deal
Galapagos (Euronext:GLPG; LSE:GLPG) and LLY partnered to discover compounds against 12 GLPG targets to treat osteoporosis. GLPG is responsible for developing compounds through Phase IIa testing, after which LLY will have an exclusive option to license worldwide rights to further develop and commercialize the compounds. GLPG expects to start preclinical testing of the first compound in 2011, with clinical testing expected to begin in 2012. GLPG will receive EUR 3 million ($4.3 million) up front. It also is eligible for up to EUR 88 million ($126.9 million) in development and regulatory milestones for each program, plus double-digit royalties. For the first product commercialized under the deal, GLPG is eligible for up to EUR 130 million ($187.5 million) in sales milestones.
Last week, GLPG partnered with GlaxoSmithKline (LSE:GSK; GSK) to discover compounds against six undisclosed targets for infectious disease indications (See BioCentury Extra, Monday, Dec. 10, 2007). ...