OncoArendi and Galapagos enter into exclusive collaboration on chitinase inhibitors in fibrosis - Seite 2

In exchange for global research, development and commercialization rights, OncoArendi will receive an upfront payment of €25 million and will be eligible to receive development, regulatory and commercial milestones on licensed products, for a total potential deal value of €320 million. OncoArendi is also eligible to receive tiered royalties ranging up to low double-digits, based on future net sales.

Additionally, under the terms of the agreement, Galapagos will pay OncoArendi €2 million for the right of first negotiation on all other earlier stage programs on its chitinase platform. OncoArendi remains responsible for all research activity until preclinical candidate selection, after which Galapagos can exercise the option to initiate negotiations to obtain development or commercialization rights for the selected molecules. Any such transaction will be subject to a separate set of payments.

About Galapagos
Galapagos (Euronext & NASDAQ: GLPG) discovers and develops small molecule medicines with novel modes of action, several of which show promising patient results and are currently in late-stage development in multiple diseases. The company’s pipeline comprises early discovery through to Phase 3 programs in inflammation, fibrosis, and other indications. Galapagos’ 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.

About OncoArendi

OncoArendi Therapeutics SA (WSE:OAT) is a Polish innovative biotechnology company specializing in research, development and commercialization of innovative small molecule drugs for treatment of respiratory diseases and cancer. Researchers at OncoArendi study the role of chitinases and chitinase-like-proteins that provide multiple opportunities for therapeutic interventions. OncoArendi currently has a platform of distinct small molecule programs targeting this classes of proteins, which may have potential utility in diverse inflammatory and fibrotic diseases of high unmet medical need. OncoArendi is also focusing on the development of small molecule immune-modulators targeting a key enzyme involved in amino acid metabolism that allows tumor cells to hamper anti-tumor immunity and to avoid immune surveillance. OncoArendi Therapeutics' business model is based on the discovery and development of first-in class or best-in-class small molecules, and then outlicensing its assets to larger pharmaceutical and biotechnology companies. The company has been listed on the WSE main market since April 2018. More information at www.oncoarendi.com.