Fibrocor and Galapagos sign expanded collaboration in fibrosis
Torys acted as counsel to Fibrocor with a team that included Cheryl Reicin and Jacob Posen (corporate/life sciences), Leah Frank, Michele Cousens and Shane Thomas (securities) and Saira Bhojani (tax).
On January 15, 2020, Galapagos NV ("Galapagos") and Fibrocor Therapeutics Inc. ("Fibrocor") announced an expanded collaboration focused on novel targets in fibrosis, with Galapagos taking an equity stake in Fibrocor.
In January 2019, Galapagos announced a collaboration with Fibrocor for a small molecule inhibitor program focused on an undisclosed fibrotic target. Under the expanded collaboration, Galapagos receives the exclusive option to inlicense a total of four additional novel target programs. Galapagos can lift the option after the targets, two of which have already been identified, have been validated and brought into drug discovery, and reach the lead optimization stage. Fibrocor remains responsible for all research activity until lead optimization, after which Galapagos takes charge of all further development.
In exchange for global commercialization rights to Galapagos, Fibrocor will receive an upfront payment, and is eligible for option exercise payments as well as further milestone and royalty payments. As part of the transaction, Galapagos also takes an equity position in Fibrocor.
Fibrocor is a privately held Canadian company specializing in the development of tissue-specific therapeutics to treat fibrotic diseases of the kidney, liver, lung and other organs. To date, the company has successfully identified a suite of novel targets in fibrosis through its target discovery platform leveraging a human fibrosis biobank.
Galapagos discovers and develops small molecule medicines with novel modes of action, several of which show promising patient results and are currently in late-stage development in multiple diseases. Galapagos' pipeline comprises Phase 3 through to discovery programs in inflammation, fibrosis, osteoarthritis and other indications.
Further information can be found on Globe Newswire's website.