BridGene Biosciences and Galapagos Expand Strategic Collaboration to Develop Oral SMARCA2-Targeting PROTAC Therapeutics, Deal Value Reaching Nearly $900 Million

August 1, 2024, San Jose, California — BridGene Biosciences announced the expansion of its strategic collaboration and license agreement with Galapagos NV (Euronext & NASDAQ: GLPG). This collaboration builds upon the partnership established in January and focuses onDevelopment of Highly Selective Oral Small-Molecule PROTAC Degraders Targeting SMARCA2。

In January 2024, BridGene Biosciences entered into a collaboration agreement with Galapagos, with a total potential value exceeding $700 million. Under this agreement, BridGene will leverage its cutting-edge IMTAC™ chemoproteomics platform to discover novel small-molecule drug candidates targeting specific proteins.The two parties have further expanded their collaboration, raising the total amount to nearly $900 million.

As a leader in the development of covalent small-molecule drugs, BridGene focuses on developing therapeutics for traditionally “undruggable” targets. Under the terms of the expanded agreement,BridGene will leverage its advanced PROTAC discovery platform, combined with Galapagos’ expertise in selective ATPase small molecules, to jointly advance the molecule to the preclinical candidate stage. Galapagos will hold exclusive rights for further development and commercialization.

Galapagos will provide BridGene with an upfront payment and preclinical milestone payments, as well as additional payments based on clinical and commercial milestones, bringing the total potential value of the transaction to up to $159 million. In addition, BridGene is eligible to receive tiered royalties on net sales of each product resulting from the collaboration.

This expansion of the collaboration further validates the strength of BridGene’s innovative drug discovery platform, underscoring the core value of strategic partnerships in accelerating the drug development process. BridGene and Galapagos are jointly committed to developing breakthrough precision medicines aimed at significantly improving patient outcomes by leveraging targeted protein degradation technology to address urgent and unmet medical needs in oncology.

Dr. Ping Cao, Co-founder and CEO of BridGeneStated: “We are delighted to deepen our collaboration with Galapagos, which will enable us to develop more novel drugs targeting high-value and challenging oncology targets. Galapagos’s scientific expertise in oncology complements our technological capabilities perfectly. This partnership will further strengthen our proven track record in discovering drugs for difficult-to-drug targets. Our goal is to significantly enhance the success rate of drug development by combining our innovative drug discovery platform with Galapagos’s R&D and clinical expertise.”

Dr. Pierre Raboisson, Senior Vice President and Head of Small Molecule Drug Development at Galapagosstated, “We are delighted to expand our collaboration with BridGene Biosciences. BridGene possesses strong expertise in drug discovery for targets that are traditionally considered undruggable. This expanded partnership leverages the unique strengths of both parties, combining our internal drug development expertise with BridGene’s cutting-edge PROTAC technology platform, with the aim of delivering precision therapies to cancer patients in urgent need of solutions.”

BridGene is a biotechnology company dedicated to the discovery and development of innovative small-molecule drugs. The company’s core mission is to develop therapeutics for targets traditionally considered “undruggable,” providing novel solutions for the treatment of various diseases. Leveraging its proprietary chemical proteomics platform, IMTAC™, BridGene can explore interactions between small molecules and proteins within the proteome in living cells, thereby facilitating the discovery of potential small-molecule drug candidates targeting high-value, “undruggable” targets.

The company’s grand vision is to lead the revolutionary wave in small-molecule drug discovery, continuously expanding the therapeutic boundaries of small-molecule drugs. Currently, we are actively advancing multiple innovative drug development projects that span a broad range of key disease areas, with a commitment to delivering breakthrough treatment options for patients.

Since its inception nearly six years ago, BridGene has progressively established a global R&D footprint and built an interdisciplinary, end-to-end team. In 2022, the company founded Suzhou Qiaoji Biotechnology, leveraging advantages in talent, speed, cost, and operations, and established R&D centers in both China and the United States.(+Link to VCBeat startup report)

Galapagos is a biotechnology company operating in Europe and the United States, dedicated to developing transformative medicines that improve human quality of life and longevity. Focusing on areas of high unmet medical need, Galapagos has built a leading R&D pipeline in oncology and immunology by integrating cutting-edge science, innovative technologies, and external collaborations. This pipeline encompasses best-in-class small molecules, cell therapies, and biologics, demonstrating the company’s profound expertise and commitment to innovation in the biotechnology sector. Leveraging its robust capabilities spanning from laboratory-based drug discovery to clinical development, including a decentralized T-cell manufacturing network, Galapagos is committed to challenging the status quo and delivering value for patients, employees, and shareholders.