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February 1, 2007

Galapagos Licenses its Obesity and Diabetes Discovery Technology for Upwards of Euro 27.77M

  • Hillcrest Therapeutics obtained rights to develop and commercialize Galapagos’  diabetes and obesity discovery program. According to the exclusive commercial license agreement, Hillcrest received worldwide rights to the PPAR-delta technology in all fields, which has reached the candidate drug-selection stage.

    Total contract value for Galapagos amounts to Euro 770,000 in license fees, up to Euro 27 million in potential milestones, undisclosed milestone payments in Hillcrest equity, and single-digit royalties on commercial products arising from the program.

    PPAR-delta is a key regulator of the human body’s control of metabolism. With the acquisition of Inpharmatica in December 2006, Galapagos obtained the downstream rights to the PPAR-delta program.

    Hillcrest Therapeutics is a portfolio company of Paramount BioSciences, who will complete the development, clinical testing, and commercialization of this program. Galapagos will have no further involvement in the execution of the development.

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