BridGene Says "Galapagos Will Pay Up To $27M In Upfront And Preclinical Research Milestone Payments, More Than $700M In Clinical And Commercial Milestones; Eligible To Receive Tiered Royalties On Net Sales Of Each Product Resulting From The Collaboration"
Portfolio Pulse from Benzinga Newsdesk
BridGene Biosciences has entered into a collaboration with Galapagos, where Galapagos will pay BridGene up to $27 million in upfront and preclinical research milestone payments. Additionally, BridGene could receive over $700 million in clinical and commercial milestones, along with tiered royalties on net sales of each product resulting from the collaboration.
January 03, 2024 | 9:01 pm
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Galapagos has committed to a potential total payout of over $727 million to BridGene, including upfront, preclinical, clinical, and commercial milestones, as well as royalties on sales.
The announcement of this collaboration and the potential for significant milestone payments and royalties is likely to be viewed positively by investors. It indicates a strategic investment in BridGene's research and potential future revenue streams for Galapagos. The large sum of the deal suggests confidence in the collaboration's prospects.
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