BeNeLuxBelgiumNetherlandsLuxembourg

Abbott bags Galapagos' first-in-class compound against rheumatoid arthritis

01.03.2012

Illinois/Mechelen – US pharma major Abbott has paid US$150m upfront to Belgian biotech firm Galapagos NV to enter into a global development and distribution partnership for its first-in-class selective oral JAK1 blocker that has recently proved effective in patients with rheumatoid arthritis (RA). Under the terms of the agreement, Abbott has secured an option to license the programme for a one-time fee of U$200m. In that case, Abbott will assume sole responsibility for Phase III clinical development and global manufacturing. Pending the achievement of certain developmental, regulatory, commercial and sales-based milestones, Galapagos would be eligible to receive additional milestone payments from Abbott, potentially amounting to US$1bn, in addition to tiered double-digit royalties on net sales upon commercialisation. Galapagos retains co-promotion rights in Belgium, the Netherlands and Luxembourg.
With the deal, Abbott enters a competition with Pfizer and Vertex, who also have JAK kinase blockers against RA under development. According to the results from an exploratory Phase II trial published last November, 83% of the 36 patients receiving GLPG0634 reached the ACR20 score and half of the treated patients went into either disease remission or low disease activity. Furthermore the compound showed no anaemia, change in blood pressure of lipids. Onno van de Stolpe, CEO of Mechelen, Belgium-based Galapagos, was also keen to emphasise the trial had demonstrated a better safety profile than other JAK inhibitors, which are in development for rheumatoid arthritis. They include two potential blockbuster DMARDS: Pfizer's tofacitinib and Vertex Inc.'s VX509, which is in Phase II.

BeNeLuxBelgiumNetherlandsLuxembourg

29.03.2012

Brussels – Promethera Biosciences has completed a Series B financing round, generating proceeds of €23.6m. The Belgian cell therapy company secured a capital increase of €17m from its new investors, among them the venture arms...

BeNeLuxBelgiumNetherlandsLuxembourg

19.03.2012

Leuven – Biopharmaceutical company ThromboGenics has entered into an agreement with Alcon Inc., a division of Novartis for the commercialisation of its product ocriplasmin in all markets outside the U.S. ThromboGenics said it...

BeNeLuxBelgiumNetherlandsLuxembourg

07.03.2012

Amsterdam Molecular Therapeutics has announced a financial manoeuvre aimed at getting the biotech out of a hopeless situation. The assets and – more importantly – the liabilities of the drug developer will be acquired by a newly...

BeNeLuxBelgiumNetherlandsLuxembourg

20.02.2012

Amsterdam - Amsterdam Molecular Therapeutics has announced a financial manoeuvre which is aimed to get the biotech out of a dead end. The assets and – more importantly – the liabilities of the drug developer will be acquired by...

BeNeLuxBelgiumNetherlandsLuxembourg

10.02.2012

Glasgow/Leuven - With a little help from the EU, two biotech companies are banding together to develop the first stem cell therapy against rheumatoid arthritis. UK-based Sistemic will work with TiGenix to develop the Belgian's...

BeNeLuxBelgiumNetherlandsLuxembourg

25.01.2012

Amsterdam – Two elephants in the biofuels business join forces. Dutch food and chemicals group Royal DSM and POET, LLC, a US-based ethanol producer, announced a plan to build a commercial cellulosic ethanol plant. POET–DSM...

BeNeLuxBelgiumNetherlandsLuxembourg

13.01.2012

Heerlen - Royal DSM N.V will be the industrial partner to the Panoptes consortium, which aims to develop novel drug delivery technology for the posterior eye segment. The four year project is supported by EUR4m in funding from...

BeNeLuxBelgiumNetherlandsLuxembourg

04.01.2012

Leiden - Dutch Pharming Group NV has taken a further step to secure sound financing even beyond the recent milestone payments. The drug developer announced that it has entered into a financing of approximately €8.4 million by...

BeNeLuxBelgiumNetherlandsLuxembourg

16.12.2011

Ghent – Just days after US pharmaceuticals giant Pfizer pulled out of a rheumatoid arthritis pact with Ablynx NV, the Belgian biopharmaceutical company expanded its relationship with Merck Serono. Ablynx has now entered into a...

BeNeLuxBelgiumNetherlandsLuxembourg

16.12.2011

Mechelen - Galapagos NV confirms its status as one of Europe best drug discovery companies. The Belgian biotech received €4 million as the first milestone payments from French Servier for the discovery of new targets for...

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