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Enceladus Pharmaceuticals BV

Drug Names(s): GLPG0303, liposomal prednisolone, long-circulating liposomal prednisolone

Description: Nanocort is composed of prednisolone, a widely used corticosteroid, enclosed in a small lipid vesicle (liposome). The liposomes accumulate at sites of inflammation allowing the delivery of high concentrations of corticosteroid to the sites of action, thereby reducing possible toxicities associated with free glucocorticoids.

Deal Structure: Nanocort was originally developed by Enceladus.

In April 2008, Galapagos in-licensed Nanocort from Enceladus. Under the terms of the agreement, Galapagos will pay Enceladus an upfront fee and run the clinical development of Nanocort. Enceladus will receive a minority share of future revenues received by Galapagos from the commercialization of Nanocort.

In April 2011, Galapagos stated that Nanocort no longer fits in Galapagos' strategy and that the Company sent a termination of collaboration agreement notice to Enceladus.

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