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Galapagos to collaborate with Janssen on oncology

Thu Jan 3, 2008 2:14am EST

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BRUSSELS, Jan 3 (Reuters) - Belgian biotechnology company Galapagos (GLPG.BR)(GLPG.AS) said on Thursday it had agreed a two-year collaboration deal with Janssen Pharmaceutica, part of Johnson & Johnson (JNJ.N), to target potential cancer-treating drugs.

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BioFocus DPI, Galapagos's service division, would receive an upfront payment of 2.9 million euros ($4.25 million) and could receive additional research, acceptance, licence and development fees of up to 7.6 million euros.

"This marks BioFocus DPI's first target discovery agreement in oncology, as well as the largest target discovery agreement to date for the service division," Onno van de Stolpe, Galapagos's chief executive said in a statement. (Reporting by Philip Blenkinsop, editing by Will Waterman)

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