Galapagos In-licenses Inflammatory Bowel Disease Drug Targets From Scipher Medicine

Scipher Medicine announced that Galapagos GLPG has exercised its option to in-license novel drug targets for inflammatory bowel disease (IBD) discovered by Scipher's Spectra platform.
In August 2020, Galapagos and Scipher Medicine agreed to jointly validate a suite of novel IBD targets discovered by Spectra. Galapagos has the exclusive option to in-license certain validated preclinical targets for further development and commercialization.
After validation work, Galapagos is moving selected targets into the next phase of drug development, triggering a milestone payment to Scipher and making Scipher eligible to receive additional milestone-based payments.
Spectra is fueled by one of the largest patient molecular data lakes in autoimmune diseases and unique artificial intelligence network science-based algorithms. The platform identifies biologically similar patients and drug targets specific to those patients to improve response rates.
Price Action: GLPG shares are up 0.58% at $55.58 during the market session on the last check Tuesday.