Galapagos Receives E2.5m In Osteoporosis Collaboration With Lilly
Galapagos has received a total of E3.9 million in milestone payments from Lilly under the alliance so far
Galapagos has received a milestone payment of E2.5 million in its osteoporosis collaboration with Eli Lilly.
Reportedly, in December 2007, Lilly and Galapagos initiated an alliance to develop new medicines for the treatment of osteoporosis. The agreement provides Lilly access to 12 of Galapagos’ novel target-based programs in osteoporosis, with Galapagos responsible for the development of drug candidates through to phase IIa clinical Proof of Concept.
The milestone is the result of one of these programs reaching the next phase of medicinal chemistry optimization. So far, Galapagos has received a total of E3.9 million in milestone payments from Lilly under the alliance.
Onno van de Stolpe, CEO of Galapago, said: “We remain on-track in the osteoporosis alliance with Lilly. Through milestone payments such as the one announced today, we are able to finance the progression of multiple osteoporosis drug candidates toward the clinic.
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