Galapagos announces PPAR-delta commercial license agreement with Hillcrest Therapeutics
Galapagos NV announced that it has signed an exclusive commercial license agreement with US-based Hillcrest Therapeutics, Inc., in which Hillcrest was granted worldwide rights to develop and commercialize the PPAR-delta technology in all fields. PPAR-delta, a drug discovery program addressing diabetes and obesity, has reached the stage of candidate drug selection. Hillcrest Therapeutics, located in San Diego, California, is a portfolio company of Paramount BioSciences LLC, a drug development and company capitalization firm. Total contract value for Galapagos amounts to EUR770,000 in license fees, up to EUR27 million in potential milestones, undisclosed milestone payments in Hillcrest equity, and single digit royalties on commercial products arising from the program.
PPAR-delta] is a key regulator of the human body's control of metabolism; as such, it is considered a valuable target for drug discovery in diabetes and obesity. With the acquisition of Inpharmatica Ltd. on 5 December 2006, Galapagos obtained the downstream rights to the PPAR-delta program. Inpharmatica applied its predictive drug discovery technologies to this internal R&D program, developed proprietary lead series, and reached candidate drug selection within 18 months of commencement. Paramount BioSciences will be completing the development, clinical testing, and commercialization of this program. Galapagos will have no further involvement in the execution of the development.
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