India Pharma Outlook Team | Friday, 05 January 2024
BridGene Biosciences, Inc., a leader in small molecule drug development targeting conventional "hard-to-drug" targets, announced a strategic collaboration and license arrangement with Galapagos NV.
Under the collaboration, BridGene will use its chemoproteomics platform, IMTAC, to discover novel small molecule drug candidates against the collaboration targets. The parties will collaborate to advance the molecules to clinical candidates, which Galapagos has the exclusive rights to develop and commercialize, as per pharmabiz.
Galapagos-identified oncology targets will be the focus of the preclinical research cooperation. If the studies are successful, Galapagos will pay BridGene up to $27 million in upfront and preclinical research milestone payments, as well as more than $700 million in clinical and commercial milestone payments. BridGene is also eligible for tiered royalties on net sales of each product created as a result of the agreement.
"We are excited to collaborate with Galapagos in the discovery of new drugs targeting critical and challenging targets in oncology. The depth of Galapagos' scientific expertise in oncology aligns perfectly with our capabilities and this collaboration will further reinforce our strong track record in identifying drugs for difficult targets," stated Ping Cao, Ph.D., co-founder and CEO of BridGene Biosciences. "Partnering is a fundamental strategy for BridGene. We aim to create collaborations that significantly boost the likelihood of success. This is achieved by integrating our innovative discovery platform and expertise in tackling "hard-to-drug" targets with the wide-ranging scientific, clinical, and commercial expertise of partners like Galapagos."
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