LONDON (Thomson Financial) – Galapagos NV said it has entered into a new two-year oncology target discovery collaboration with Janssen Pharmaceutica.
The company said its service division BioFocus DPI will apply Galapagos’ proprietary adenoviral platform to identify novel drug targets for the development of cancer therapies.
BioFocus DPI receives an upfront payment of 2.9 mln eur and in total it may receive additional research, acceptance, license and development fees of up to 7.6 mln eur should certain predetermined criteria be achieved.
‘This marks BioFocus DPI’s first target discovery agreement in oncology, as well as the largest target discovery agreement to-date for the service division,’ Galapagos chief executive Onno van de Stolpe said.
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.