Publication date: 04/01/2019
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 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.
"This collaboration validates the fibrosis drug development expertise of Fibrocor," says Mark A. Steedman, President and CEO of Fibrocor. "I take my hat off to 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."
Spun out of St. Michael's Hospital and Sinai Health Sytems in Toronto in early 2017, and seed funded by MaRS Innovation, Fibrocor Therapeutics L.P. represents a new paradigm in drug discovery research as it marries a state of the art genomics platform (developed by Dr. Jeff Wrana) to a kidney biobank (led by Dr. Darren Yuen), ultimately uncovering underlying genetic factors associated with specific clinical populations, and using longitudinal data to uncover rapid progressors of the disease.
MaRS Innovation is a leading provider of commercialization services, early-stage funding, and deal-brokering with industry and private investors. As a member-based organization made up of 15 Member institutions, MaRS Innovation's mandate is to drive the commercialization of their most promising research breakthroughs. MaRS Innovation's portfolio consists of early-stage assets and companies, and we leverage our deep expertise and experience to mature this portfolio via important global and strategic partnerships. With an active portfolio of more than 40 companies which have raised in excess of $250M from global investors, and with the creation of more than 400 direct jobs, MaRS Innovation is truly a leader in the commercialization field. For more information please visit www.marsinnovation.com and follow us on Twitter @marsinnovation.
Galapagos (Euronext & NASDAQ: GLPG) discovers and develops small molecule medicines with novel modes of action, three of which show promising patient results and are currently in late-stage development in multiple diseases. Our pipeline comprises Phase 3 through to discovery programs in inflammation, fibrosis, osteoarthritis and other indications. Our ambition is to become a leading global biopharmaceutical company focused on the discovery, development and commercialization of innovative medicines. More information at www.glpg.com.