Galapagos receives EUREKA innovation label and OSEO funding
Galapagos NV announced that its antibody therapeutics program with MorphoSys and SARM program have been awarded funding by the French governmental organization OSEO. Accordingly, the Paris-based Galapagos R&D center will receive interest free loans from OSEO worth €1.2 M over the next two years. Galapagos will use the loans to help fund the pre-clinical development of SARM candidate drug GLPG0492 for cachexia and the antibody alliance with MorphoSys.
The Galapagos-MorphoSys antibody alliance also has been awarded the innovation label (E! 5036 GALASYS) by EUREKA, a European network that enhances European competitiveness through international collaboration. With the EUREKA label, Galapagos received the no-interest loan from the French governmental organization OSEO to help fund its part of the alliance. The EUREKA label recognizes the partners' combined cutting-edge capabilities to generate novel antibody therapeutics, a rapidly growing market currently worth over €20 billion. Galapagos and MorphoSys are developing fully human antibodies, which are recognized as the next generation of therapeutic antibodies.
"This attractive financing that our Paris-based R&D center has received from OSEO will support two highly innovative programs which we otherwise would have had to finance internally," said Onno van de Stolpe, CEO of Galapagos. "Both of these programs are on-track, with the SARM candidate drug scheduled to enter the clinic early next year."
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Topic world Antibodies
Antibodies are specialized molecules of our immune system that can specifically recognize and neutralize pathogens or foreign substances. Antibody research in biotech and pharma has recognized this natural defense potential and is working intensively to make it therapeutically useful. From monoclonal antibodies used against cancer or autoimmune diseases to antibody-drug conjugates that specifically transport drugs to disease cells - the possibilities are enormous
Topic world Antibodies
Antibodies are specialized molecules of our immune system that can specifically recognize and neutralize pathogens or foreign substances. Antibody research in biotech and pharma has recognized this natural defense potential and is working intensively to make it therapeutically useful. From monoclonal antibodies used against cancer or autoimmune diseases to antibody-drug conjugates that specifically transport drugs to disease cells - the possibilities are enormous