Firm has received about $14.7 million from deal valued at over $1 billion.
Galapagos achieved a €3.4 million ($4.7 million) milestone in its collaboration with Janssen Pharmaceutica in rheumatoid arthritis. The payment was made due to one of the 12 licensed programs reaching the next phase of medicinal chemistry optimization.
In October 2007 the companies entered an agreement worth over €926 million, which gave Janssen options to acquire worldwide, commercial licenses to small molecules from up to 12 of Galapagos’ internal programs. Janssen also obtained an option to candidates from Galapagos’ other internal RA programs including its most advanced kinase target GT418.
Galapagos obtained €15 million up front and has made €10.55 million in success-based fees. Galapagos’ first milestone came in January 2008, and it received €3.4 million. Its second milestone, which was paid about a year later, was worth €3.75 million. Option exercise fees and success-based payments for each program could reach €73 million.
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