Oct. 3 (Bloomberg) -- Galapagos NV and Servier of France have entered a strategic alliance to develop new cancer therapies that could potentially result in as much as 260 million euros in milestone payments for Galapagos.

Galapagos will be responsible for the discovery and development of new candidate drugs against the companies’ combined oncology targets. Servier will have an exclusive option to license each small molecule program after the completion of pre-clinical development by Galapagos.

Link to Statement:{NSN LSH5Z43PR6RK <GO>}

To contact the editor responsible for this story: Andrew Clapham at aclapham@bloomberg.net