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Bausch & Lomb, Galapagos sign collaboration agreement to develop compounds for ophthalmic disease
ROCHESTER, N.Y. — Bausch & Lomb and Galapagos NV have entered into a collaborative research agreement under which Bausch & Lomb will own the exclusive option to license and develop select Galapagos compounds for treating ophthalmic diseases, according to a joint press release from the companies.
Under the terms of the agreement, Galapagos will receive an initial payment of $400,000 and may acquire additional research funding — including future milestone payments — to sustain Bausch & Lomb's development of the compounds, the release said.
Pending successful development and commercialization, payments are expected to exceed $50 million in addition to all royalties from the commercial sale of licensed products, according to the release.
"The agreement provides access to a group of compounds that may have excellent development candidate potential," Praveen Tyle, PhD, chief scientific officer of Bausch & Lomb, said in the release. "The small molecule compounds under evaluation have very attractive in vitro and in vivo profiles. Our intent is to develop these compounds as unique therapies, tapping our research expertise in ophthalmic diseases."