Krakow, Poland – 14 December 2021 – Ryvu Therapeutics S.A. (WSE: RVU) announced today that the pre-agreed criteria in the Option, License and Research Collaboration Agreement, announced between Ryvu and Galapagos on April 16, 2020, have been achieved and Galapagos has exercised its exclusive option for the program.
The joint research collaboration is focused on the discovery and development of novel small molecule drugs in inflammation, with Ryvu responsible for the early drug discovery. The collaboration is based on a novel drug target identified by Ryvu and was driven by the joint effort of scientific teams from both companies, supported by Ryvu’s resources and expertise in high-throughput screening, medicinal chemistry and biology.
“We are delighted with the results of our research collaboration with Galapagos to date. For over a year, our teams have worked together on a novel and exciting target in inflammation, which now has resulted in the exercise of the option by Galapagos. I am very proud and hopeful for the future of this program to help patients with certain inflammatory diseases,” comments Vatnak Vat-Ho, Chief Business Officer at Ryvu Therapeutics.
With this exercise of the exclusive option, Galapagos is granted by Ryvu exclusive worldwide rights to continue the research, development and commercialization of the program based on compounds discovered and developed by Ryvu. Ryvu will receive an option exercise fee and is eligible to receive research and development milestone payments, as well as royalties on future sales.