Fibrocor Therapeutics, a privately held Canadian company, and Galapagos announced a global partnership focused on a novel target for idiopathic pulmonary fibrosis (IPF) and other indications.<\/p>\n
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 the lead optimization stage of development for the treatment of fibrotic diseases of the lung and other organs, the target of which is undisclosed. In exchange for global commercialization rights to Galapagos, 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.<\/p>\n
\u201cThis collaboration validates the fibrosis drug development expertise of Fibrocor,\u201d says Mark A. Steedman, President and CEO of Fibrocor. \u201cI take my hat off to Dr. Richard Gilbert and the scientific team, including Evotec GmbH, our CRO1 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.\u201d<\/p>\n
\u201cThe 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,\u201d says Dr. Piet Wigerinck, Chief Scientific Officer at Galapagos. \u201cWe 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.\u201d<\/p>\n