Ryvu announces option to license inflammation program exercised by Galapagos NV
KRAKOW, Poland, Dec. 14, 2021 /PRNewswire/ -- Ryvu Therapeutics S.A. (WSE: RVU) announced today that the pre-agreed criteria in the Option, License and Research Collaboration Agreement, announced between Ryvu and Galapagos on April 16, 2020, have been achieved and Galapagos has exercised its exclusive option for the program.
The joint research collaboration is focused on the discovery and development of novel small molecule drugs in inflammation, with Ryvu responsible for the early drug discovery. The collaboration is based on a novel drug target identified by Ryvu and was driven by the joint effort of scientific teams from both companies, supported by Ryvu's resources and expertise in high-throughput screening, medicinal chemistry and biology.
"We are delighted with the results of our research collaboration with Galapagos to date. For over a year, our teams have worked together on a novel and exciting target in inflammation, which now has resulted in the exercise of the option by Galapagos. I am very proud and hopeful for the future of this program to help patients with certain inflammatory diseases," comments Vatnak Vat-Ho, Chief Business Officer at Ryvu Therapeutics.
With this exercise of the exclusive option, Galapagos is granted by Ryvu exclusive worldwide rights to continue the research, development and commercialization of the program based on compounds discovered and developed by Ryvu. Ryvu will receive an option exercise fee and is eligible to receive research and development milestone payments, as well as royalties on future sales.
About Galapagos
Galapagos NV discovers, develops, and commercializes small molecule medicines with novel modes of action. Our pipeline comprises discovery through Phase 3 programs in inflammation, fibrosis, and other indications. Our 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 Ryvu Therapeutics
Ryvu Therapeutics is a clinical stage drug discovery and development company focused on novel small molecule therapies that address emerging targets in oncology. Internally discovered pipeline candidates make use of diverse therapeutic mechanisms driven by emerging knowledge of cancer biology, including small molecules directed at kinase, synthetic lethality, and immuno-oncology targets. Ryvu's most advanced programs are: RVU120 - a selective CDK8/CDK19 kinase inhibitor with potential for the treatment of hematological malignancies and solid tumors currently in Phase I clinical development for the treatment of acute myeloid leukemia and myelodysplastic syndrome, and Phase I/II for the treatment of r/r metastatic or advanced solid tumors and SEL24 (MEN1703) - dual PIM/FLT3 kinase inhibitor licensed to the Menarini Group, currently in Phase II clinical studies in acute myeloid leukemia.
The Company was founded in 2007, and is headquartered in Krakow, Poland. Ryvu is listed on the main market of the Warsaw Stock Exchange, and is a component of sWIG80 index. For more information, please see www.ryvu.com.
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SOURCE Ryvu Therapeutics
Company Codes: Warsaw:RVU, Frankfurt:9Y4