BRUSSELS (Reuters) - Belgian biotech group Galapagos NV on Thursday said it has successfully concluded the phase 2a study of a skin disease drug it is developing with Britain's GlaxoSmithKline PLC.
Galapagos tested drug GSK2586184 on 66 patients with chronic psoriasis and observed a 75 percent improvement in significantly more patients than in the placebo group.
GSK, which owns the drug's commercial rights, will decide whether to proceed with clinical trials, Galapagos said in a statement.
Galapagos said it could receive a milestone payment of up to 34 million euros ($46.94 million) as well as double-digit royalties as the program proceeds towards commercialization.
($1 = 0.7243 Euros)
Reporting by Robert-Jan Bartunek; Editing by Christopher Cushing