Wyeth licenses drug targets from osteoporosis collaboration with Galapagos
Galapagos NV announced that Wyeth has exercised its right to license three proprietary bone anabolic drug targets from their 2003 research agreement in osteoporosis, resulting in a EUR1.05 million milestone payment to Galapagos.
This is the second milestone reached in the osteoporosis collaboration initiated in November 2003. In the collaboration, Galapagos has applied its osteoporosis disease expertise to discover and validate novel drug targets for Wyeth. In November 2004, Wyeth selected a set of these targets for internal validation. The milestone announcement is the result of Wyeth licensing three targets for its internal drug discovery research efforts. Under the terms of the 2003 agreement, Galapagos could receive milestone payments of up to EUR30 million from the collaboration. The targets involved in the Wyeth collaboration are unrelated to the suite of proprietary validated targets in Galapagos' own osteoporosis program.
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