Mechelen, Belgium and Krakow, Poland; 16 April 2020, 07.30 CET – Galapagos NV (Euronext & NASDAQ: GLPG) and Ryvu Therapeutics S.A. (WSE: RVU) today announced a collaboration focused on the discovery and development of novel small molecule drugs in inflammation.
Ryvu specializes in the discovery and development of first-in-class small molecules and drug candidates in diseases with high unmet medical needs. The collaboration announced today is based on a novel drug target identified by Ryvu, which will contribute its technology platform and related intellectual property (IP). Ryvu and Galapagos will both provide resources to support the collaboration and make use of their expertise in high-throughput screening, biology, medicinal chemistry, and toxicology.
This is a joint research collaboration in which Ryvu is responsible for early drug discovery. Under the terms of the agreement, Galapagos will have an exclusive option to license IP developed by Ryvu and to continue to develop this during the collaboration. Pending achievement of pre-agreed criteria and utilizing its option, Galapagos will be responsible for all further development of the program.
In exchange for global development and commercialization rights, Ryvu will receive an upfront payment and will be eligible for further option, milestone, and royalty payments.
“We believe that the collaboration with Ryvu is an excellent fit, as both companies are driven by the search for novel drugs to address unmet medical needs,” says Dr. Piet Wigerinck, Chief Scientific Officer at Galapagos. “We look forward to collaborating with the Ryvu team to push this program forward.”
Pawel Przewiezlikowski, Ryvu Chief Executive Officer, added: “We are thrilled to start working with Galapagos, a real role model for the European biotechnology sector. Throughout joint discussions on the collaboration, our teams have developed a strong rapport and built the foundations for a very promising start for the new project on an exciting novel target.”
Galapagos (Euronext & NASDAQ: GLPG) discovers and develops small molecule medicines with novel modes of action, three of which show promising patient results and are currently in late-stage development in multiple diseases. Our pipeline comprises discovery through Phase 3 programs in inflammation, fibrosis, osteoarthritis and other indications. Our ambition is to become a leading global biopharmaceutical company focused on the discovery, development and commercialization of innovative medicines. More information at www.glpg.com.