Poland’s Ryvu To Feed Galapagos’ R&D Effort
New Drug Target For Anti-inflammatories Identified
Executive Summary
Ryvu Therapeutics has added to its drug discovery collaborators with an early-stage deal with Belgium’s Galapagos.
Kraków, Poland-based Ryvu Therapeutics SA (formerly Selvita SA) is to collaborate with Belgium biotech, Galapagos NV, on the discovery of small-molecule product candidates for the treatment of inflammation, based on a novel drug target identified by Ryvu.
Galapagos’s own development efforts have meant it is nearing the market with its lead product, the JAK1 inhibitor, filgotinib, and has several other products in its pipeline, including the Phase IIA trial of GLPG1690 in systemic sclerosis.
But the current collaboration, announced on 16 April, shows that Galapagos is not averse to licensing early-stage, drug discovery leads from other biotechs. Other recent deals by Galapagos includes an expanded collaboration with Canada’s Fibrocor Therapeutics LP. on novel fibrosis targets, and an innovative tie up with Gilead Sciences Inc..
The Warsaw Stock Exchange-quoted Ryvu has had some success in developing its own pipeline of candidate products; a selective CDK8 kinase inhibitor, SEL120, is in Phase Ib clinical development for the treatment of acute myeloid leukemia and myelodysplastic syndrome, and a dual PIM/FLT3 kinase inhibitor, SEL24/MEN1703, has been licensed to Italy’s Menarini Group and is in Phase I/II clinical development for the treatment of acute myeloid leukemia. (Also see "Deal Watch: BioLineRx, Ono, Vedantra Ink Separate Cancer Immunotherapy Pacts" - Scrip, 28 Mar, 2017.)
In the Ryvu/Galapagos collaboration, Ryvu will conduct early drug discovery work on its targets, with Galapagos having an exclusive option to license IP, and to then be responsible for further development of the technologies. In return for global development and commercialization rights, Ryvu will receive an undisclosed upfront payment and will be eligible for further option, milestone, and royalty payments.
Corporate Split
Ryvu Therapeutics and Selvita's CRO division were split up last year, with both companies trading independently on the Warsaw Stock Exchange as of 16 October 2019. During the split, each Ryvu shareholder received one Selvita share in addition to each Ryvu share they already held. (Also see "Finance Watch: BioNTech, Vir Launch IPOs But Take US Offerings To Market At A Discount" - Scrip, 11 Oct, 2019.)