Mechelen, Belgium; December 2018, 22.01 CET – Fibrocor Therapeutics L.P. (Fibrocor), a privately held Canadian company, and Galapagos NV (Euronext & NASDAQ: GLPG) announced a global partnership focused on a novel target for idiopathic pulmonary fibrosis (IPF) and other indications.
Fibrocor specializes in the development of tissue-specific therapeutics to treat the underlying cause of fibrotic diseases of the kidney and other organs. The collaboration announced today concerns a small molecule inhibitor program, currently in lead optimization, the target of which is undisclosed. In exchange for global commercialization rights, Fibrocor will receive an upfront payment, and potentially is eligible for further milestone and royalty payments. Galapagos will be responsible for all further development of the program.
“This partnership validates the fibrosis drug development expertise of Fibrocor as a leading fibrosis drug development company,” says Mark A. Steedman, President and CEO of Fibrocor. “I take my hat off to our CSO Dr. Richard Gilbert and the scientific team, including Evotec GmbH, our CRO partner, for establishing a compelling data package that ultimately attracted Galapagos, a world-renowned biotech company with a key franchise in fibrosis. We feel this is the beginning of a great relationship and look forward to working with Galapagos to the benefit of fibrosis sufferers everywhere.”
“The collaboration with Fibrocor announced today is an excellent strategic fit for Galapagos, as we continue to expand our franchise in IPF, and more broadly, in fibrosis,” says Dr. Piet Wigerinck, Chief Scientific Officer at Galapagos. “We are enthusiastic about the drug discovery approach at Fibrocor, and look forward to collaborating with the team to address the large unmet medical need in fibrosis.”