Janssen returns rights of IBD drug GLPG1205 to Galapagos

US health care giant Johnson & Johnson’s (NYSE: JNJ) Europe-based subsidiary Janssen has returned the rights to Belgian pharma company Galapagos’ (Euronext: GLPG) GLPG1205.

The experimental inflammatory bowel disease drug and the backup compound GLPG2196 have been returned to Galapagos, though it did not provide further details on the transaction.

Janssen and Galapagos entered into an agreement in 2007 which granted Janssen the option to global commercial licenses for certain Galapagos inflammatory disease programs, with Galapagos responsible for conducting Phase I and Phase IIa studies with GLPG1205.