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Galapagos, ProStrakan Earn Third Novartis Milestone

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Galapagos NV and ProStrakan Group achieved the third milestone under Galapagos’ collaboration with Novartis in antibodies for bone-related diseases. This milestone triggers a payment of $1.5 million to Galapagos, of which Galapagos will pay $1.1 million to ProStrakan per their December 2006 agreement. The collaboration was initially formed between Novartis and ProSkelia SASU (formerly a subsidiary of ProStrakan) in September 2006. Under the terms of the original agreement with Novarti...

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