Galapagos and Servier initiated their strategic alliance to develop new OA therapies in July 2010. The alliance builds on novel OA drug targets discovered by Galapagos through its proprietary platform. Galapagos is responsible for the discovery and development of new small molecule candidate drugs against these targets, some of which are in the advanced stages of drug discovery. Servier will have an exclusive option to license each small molecule program after the completion of Phase 1 clinical trials by Galapagos. Upon exercise of each option, Servier will be responsible for the further clinical development, registration and commercialization. For any marketed products, Galapagos retains exclusive U.S. commercialization rights. Under the terms of the agreement, Galapagos will receive research access payments of €7 million from Servier. Galapagos is also eligible to receive discovery, development, regulatory and other milestone payments that could reach €290 million, plus royalties upon commercialization of products outside the U.S. covered under the agreement.