Galapagos and Roche conclude strategic alliance
Galapagos, mid-size clinical stage biotechnology company, has agreed with Roche to end their alliance in fibrosis. Roche will make a payment of $975,000 to Galapagos for work completed in 2012, contributing to 2012 group revenues.
With the ending of the alliance, Galapagos has regained the worldwide rights to all fibrosis assays and the targets discovered in the alliance. These novel targets were identified in various unique human primary cell assays mimicking fibrosis. Galapagos will have received a total of $20 million in upfront and milestone payments, including this latest payment.
"We regret that Roche ended the alliance due to a strategic change, but the good news is that all assets have returned to Galapagos," said Onno van de Stolpe, CEO of Galapagos. "Our plan is to find another partner to continue the search for compounds against these debilitating diseases."