Computational drug discovery specialist e-therapeutics PLC said it will receive an unspecified payment after passing another research milestone in its collaboration with Galapagos NV.
Specifically, ETX has successfully uncovered the mechanism of action driving what it described as "hit compounds", which were found earlier in the process.
Investors were told the tie-up had now achieved its goal of finding potential "therapeutic strategies" that might one day be used to treat lung condition idiopathic pulmonary fibrosis and other fibrotic indications.
“In keeping with previous e-therapeutics projects, the hit rate in the identification of active compounds was several orders of magnitude higher than the industry standard, further validating e-therapeutics' robust computational biology methods,” the company said.
Future development of the compounds will be determined by inflammation and fibrosis specialist Galapagos, though ETX may earn further milestone payments if any one of them moves along the drug development timeline.