BridGene in $27M collaboration and licensing pact with Galapagos

BridGene Biosciences announced a strategic collaboration and licensing agreement with Galapagos . Under the collaboration, BridGene will use its chemoproteomics platform, IMTAC , to discover novel small molecule drug candidates against the collaboration targets. The parties will collaborate to advance the molecules to clinical candidates, which Galapagos has the exclusive rights to develop and commercialize.The preclinical research collaboration will focus on oncology targets named by Galapagos. Galapagos will pay BridGene up to $27M in upfront and preclinical research milestone payments and more than $700M in clinical and commercial milestones, assuming success of the programs. BridGene is also eligible to receive tiered royalties on net sales of each product resulting from the collaboration. “BridGene’s proven expertise in discovering small molecule drugs for challenging targets positions them as an ideal partner in pioneering new avenues in oncology drug discovery,” said Pierre Raboisson, PhD, Senior Vice President and Head of Small Molecules Discovery at Galapagos. “By integrating BridGene’s innovative platform with our robust capabilities in drug discovery and clinical development, we are poised to develop breakthrough cancer therapies. Our goal is to deliver transformative precision medicines for cancer with limited treatment options.”