Toronto-based Fibrocor Therapeutics will be working with Belgo-Dutch pharmaceutical research company Galapagos NV to develop therapeutics for fibrotic diseases. An agreed upfront payment will go to Fibrocor with potential milestone and royalty payments in the future.
Fibrocor plans to use the partnership to work towards advanced drug development and eventual commercialization of its scientific assets
Fibrocor was founded and seed-funded by MaRS Innovation in 2017, based on research from two of MaRS’ Member institutions: St. Michael’s Hospital and Sinai Health Systems. The research came from the labs of Drs. Richard Gilbert, Darren Yuen, and Jeff Wrana. Their work combines a superior genomics platform with a kidney biobank to discover certain genetic factors which impact fibrosis patients.
Fibrocor plans to use the expertise of the global pharma company to work towards advanced drug development and eventual commercialization of its scientific assets. Galapagos will gain expertise in the fibrosis field by working with Fibrocor, and specifically looks to continuing its franchise in lung fibrosis and eventually fibrosis of other organs.
“We are enthusiastic about establishing ties with Galapagos through Fibrocor. We believe it will be a great fit for both companies as well as for us and our Member institutions,” Rafi Hofstein, CEO of MaRS Innovation and Chair of Fibrocor said in a statement. “Fibrocor works closely with our CRO partner, Evotec GmbH, as well as the scientific teams both in Toronto and Germany. Galapagos’ commitment to therapeutics for the treatment of fibrosis is perfectly aligned with the core mandate of both Fibrocor and MaRS Innovation.”
Featured photo via Fibrocor.