Galapagos reached significant milestones in its drug discovery alliance with GlaxoSmithKline (GSK) in osteoarthritis, triggering a payment of €7.5 million, or $10.79 million.
This disbursement reportedly marks the fourth milestone payment since the start of the firms’ collaboration. It includes €5.9 million for the initiation of two drug discovery programs, both of which resulted due to the July expansion of their partnership. To date, Galapagos has received a total of €15.1 million in access and milestone payments from GSK.
The agreement orginated in June 2006, where in Galapagos would deliver disease-modifying drugs with clinical proof of concept for the treatment of osteoarthritis to GSK's global R&D organization.
Earlier this year, GSK made a €4.4 million equity investment in Galapagos, and the alliance was expanded to include up to two selected GSK targets. The renewed transaction is worth up to €186 million in milestones plus up to double-digit royalties on global product sales.