Théa Open Innovation and Galimedix announce partnership for development and commercialisation of GAL-101
pharmafile | April 3, 2023 | News story | Sales and Marketing |
Théa Open Innovation (TOI) and Galimedix have announced that they have signed a licensing agreement granting TOI exclusive rights for the development and commercialisation of GAL-101, Galimedix’s treatment for dry age-related macular degeneration (AMD), glaucoma and other ophthalmic indications with high unmet medical need, in Europe, the Americas, the Middle East and Africa.
Galimedix is set to receive an upfront technology access fee and will receive further success-based milestone payments alongside royalties on net sales. TOI is expected to fund the remaining development of GAL-101 in dry AMD as well as taking charge of the registration and commercialisation of the drug, however Galimedix will continue to take responsibility for its mid-stage clinical trials. TOI also plans to invest into Galimedix, showing its interest in the company’s pipeline, for example its Alzheimer’s disease (AD) research.
Jean-Frédéric Chibret, president of the Théa Group, commented: “Through the partnership with Galimedix, Théa will be among the few companies globally that are working on an innovative drug for the treatment of dry AMD patients who are currently at risk of going blind. We are excited to be working with Galimedix, as this collaboration supports our continued commitment to building a strong, cutting-edge and diversified ophthalmological portfolio for eye care specialists around the world and their patients.”
Alexander Gebauer, MD, executive chairman of Galimedix Therapeutics, added: “We are excited to partner our front-runner programme, GAL-101, in ophthalmology with TOI, a company highly respected in and fully dedicated to the challenging field of ophthalmology already for several generations. This collaboration is an important milestone for Galimedix, as it further validates our technology and is critical to bringing GAL-101 through clinical development and approval to help patients who are currently at risk of gradually going blind. In addition, we are gratified by the strong support TOI has shown towards Galimedix by way of its equity investment in the company. This will enable us to move forward with our development plans for GAL-201, our next-generation oral compound for Alzheimer’s disease.”
Betsy Goodfellow
