Galapagos agrees cystic fibrosis collaboration

BRUSSELS, Nov 29 (Reuters) - Belgian biotechnology company Galapagos (GLPG.BR)(GLPG.AS) said on Thursday it had agreed a drug discovery collaboration with Cystic Fibrosis Foundation Therapeutics (CFFT) worth up to $8.1 million.

The collaboration aims to identify small molecules derived from natural sources that improve the function of a defective protein found in people who have cystic fibrosis.

Under the terms of the agreement, Galapagos stands to receive up to 1.6 million euros ($2.36 million) in upfront and research fees over the next two years, and up to 3.8 million euros in success-based milestone payments.