£2.4 million grant awarded by Innovate UK, the UK's innovation agency
Calchan Holdings Limited ("the Company"), a UK company focused on the development of novel medicines based on calcium ion channel modulators, and Galapagos NV (Euronext: GLPG), a clinical stage biotech company focused on developing novel mode of action medicines, today announce that they have entered into a research collaboration in the area of osteoarthritis pain.
Calchan has been awarded a £2.4 million grant from Innovate UK, the UK's innovation agency, Biomedical Catalyst Early Stage Round 2 to discover and develop compounds against a novel target for osteoarthritic pain. Calchan and Galapagos will collaborate in identifying pre-clinical candidates. Subsequently, Calchan and Galapagos may jointly progress the assets further into the clinic. Further financial details remain undisclosed.
Brenda Reynolds, Director of Calchan, commented: "We are delighted to have formed this research alliance with Galapagos and to have received this grant from Innovate UK. This is our second via this competitive process, and it provides further recognition of our leading expertise in the discovery and development of novel pain drug candidates. This new project will combine our capabilities and expertise in the shared aim of alleviating pain and suffering in osteoarthritic patients."
Onno van de Stolpe, Chief Executive Officer of Galapagos, commented: "Pain in osteoarthritis remains a major unmet medical need. This alliance with Calchan is based on the deep expertise of Galapagos in drug discovery, and complements our longstanding research efforts in osteoarthritis. Supported by the Biomedical Catalyst Early Stage Round 2 grant, we look forward to collaborating with Calchan to bring a new class of osteoarthritis pain medicines to the clinic."