First major license agreement paves way for additional partnerships.
Galimedix has entered an important collaboration with major ophthalmology player Théa Open Innovation (TOI), a testament to the strength of our technology and a validation of the great potential our program GAL-101 offers for millions of patients at risk of losing their sight.
With the funding support from Thea, we are able to move full steam ahead with the development of GAL-101 for dry AMD and are now actively seeking partners to leverage the ophthalmology opportunity with GAL-101 in important markets in Asia.
In addition, we seek partners for our technology in Alzheimer’s disease for all territories to enable us to develop our potentially disease-altering medications addressing this major disease of aging.
Licensing agreement with TOI – an important first development and commercialization agreement for Galimedix. In March 2023, we signed a licensing agreement granting major ophthalmology player, Théa Open Innovation (TOI), exclusive rights for the development and commercialization of GAL-101 for the topical and oral treatment of dry AMD, glaucoma and other ophthalmic indications with high unmet medical need in Europe, the Americas, the Middle East and Africa. Galimedix received an upfront technology access fee and is eligible to receive further success-based milestone payments as well as royalties on net sales. While TOI will fully fund the remaining development of GAL-101 in dry AMD and take charge of the registration and commercialization of the drug, Galimedix remains responsible for the mid-stage clinical trials, leveraging their respective expertise and familiarity with the compound. TOI also made an investment in Galimedix, further demonstrating its strong interest and belief in our technology.