European Drugmaker Galapagos Collaborates With Biotech BridGene Biosciences To Develop Cancer Treatments
Portfolio Pulse from Vandana Singh
BridGene Biosciences Inc. has entered into a strategic collaboration and licensing agreement with Galapagos NV (NASDAQ:GLPG) to develop cancer treatments using BridGene's IMTAC chemoproteomics platform. Galapagos will pay BridGene up to $27 million in upfront and preclinical research milestone payments, and potentially over $700 million in clinical and commercial milestones, plus royalties on net sales. This follows Galapagos' recent transfer of its Jyseleca business to Alfasigma, which is expected to save €150-200 million and allow for investment in technology platforms and licensing opportunities.
January 03, 2024 | 9:02 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Galapagos NV has announced a collaboration with BridGene Biosciences to develop cancer treatments, with potential payments to BridGene exceeding $700 million plus royalties. The company also transferred its Jyseleca business to Alfasigma, expecting to save €150-200 million.
The collaboration with BridGene could lead to the development of new cancer treatments, which has a positive outlook for Galapagos' future growth and revenue. The transfer of the Jyseleca business is likely to improve financial flexibility and allow for strategic reinvestment, which could be viewed favorably by investors. The combined news of collaboration and cost savings is likely to have a positive short-term impact on GLPG's stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100