Galapagos achieves milestones in osteoporosis alliance
Galapagos NV announced that it has reached milestones in its osteoporosis alliance with Eli Lilly and Company, resulting in payments of €2.9 million from Lilly.
In 2008, Lilly and Galapagos initiated their alliance to develop new medicines for the treatment of osteoporosis. The alliance agreement provides Lilly access to 12 of Galapagos' novel target based programs in osteoporosis, with Galapagos responsible for the development of drug candidates through to Phase IIa clinical Proof of Concept. To date, Galapagos has received a total of €9.8 million in payments from Lilly under the alliance.
"Our drug discovery approach has shown substantial progress despite the challenges intrinsic to working in the osteoporosis field," said Onno van de Stolpe, Galapagos' CEO. "The lead molecules that we have identified thus far show bone-building properties and we are further optimizing these molecules to deliver orally-available small molecules to Lilly's development team."
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