E-therapeutics PLC (LON:ETX) said it passed a key landmark in its collaboration with drug discovery group Galapagos that triggers a milestone payment under its pre-clinical and clinical development agreement.
No financial details were given.
Signed just over a year ago, the objective of the Galapagos agreement is to find a new drug approach to idiopathic pulmonary fibrosis “and other fibrotic indications”.
The company’s chief executive, Ali Mortazavi, said: “We believe E-therapeutics' network biology approach will become an important component of small molecule drug discovery and we are implementing the same approach to our internal pipeline, using RNAi [RNA interference, or gene silencing] as the therapeutic modality of choice."