In a landmark move, Galapagos (NASDAQ:GLPG) has forged a strategic collaboration and licensing agreement with BridGene Biosciences to pave the way for developing precision medicine candidates using BridGene’s cutting-edge chemoproteomics platform.
The deal entails substantial payouts, with Galapagos committing to remunerate BridGene up to $27M in upfront and preclinical research milestone payments. Moreover, BridGene stands to potentially gain over $700M in assorted milestone payments, in addition to earning single-digit tiered royalties on the net sales of products realized under the contract.
Both companies are primed to embark on the journey of uncovering and nurturing precision medicine candidates into clinical frontrunners. Galapagos secures the exclusive right to further develop and commercialize any such promising candidates.