Galimedix Therapeutics Secures Milestone Payment in Partnership with Théa

Galimedix Therapeutics has announced the receipt of a milestone payment from its partnership with Théa Open Innovation. This payment follows the successful completion of Phase 1 trials for the orally administered GAL-101. Results indicated that the compound is both clinically safe and well-tolerated. Its pharmacokinetic profile supports moving forward to Phase 2 trials.

The milestone payment bolsters Galimedix's operational capacity, enabling further development of GAL-101 for Alzheimer's disease and other indications. In parallel, the eye drop formulation of GAL-101 is progressing through Phase 2 trials targeting geographic atrophy, a severe form of dry age-related macular degeneration.

Galimedix and Théa's collaboration commenced in March 2023, focusing on GAL-101's development and commercialization across Europe, the Americas, the Middle East, and Africa. The agreement includes success-based milestone payments and royalties from net sales, with Théa funding further development for ophthalmology applications.