Galapagos delivers candidate drug in its alliance with Janssen Pharmaceutica NV and receives EUR4 million milestone payment
January 16, 2013 - Mechelen, Belgium
Galapagos NV (Euronext: GLPG) announcedtoday that it has identified a second pre-clinical compound in its alliancewithJanssen Pharmaceutica NV. This achievement triggered a milestone paymentof EUR4million to Galapagos.
In 2007, Galapagos announced an alliance agreement with JanssenPharmaceutica NVproviding it with option rights to acquire worldwide, commerciallicenses tocertain Galapagos internal programs. The milestone announced todayrelates tothe delivery of a second pre-clinical candidate developed by Galapagos.
"We are very pleased to announce the delivery of a second candidate drugin thealliance with Janssen," said Onno van de Stolpe, CEO of Galapagos."Galapagosis progressing multiple programs successfully across differentalliances anddelivering promising candidate drugs."
About Galapagos
Galapagos (Euronext: GLPG; OTC: GLPYY) is a mid-size clinicalstagebiotechnology company specialized in the discovery and development ofsmallmolecule and antibody therapies with a novel mode-of-action. TheCompany isprogressing four clinical, six pre-clinical, and 30 discovery programs incysticfibrosis, inflammation, antibiotics, metabolic disease, and otherindications.Its lead program is GLPG0634, an orally-available, selective inhibitor ofJAK1,for the treatment of rheumatoid arthritis and potentially otherinflammatorydiseases. In two four-week Phase 2 studies, GLPG0634 showed improvementin thesigns and symptoms of rheumatoid arthritis and a unique safety profile.A 6month Phase 2b study is expected to start Q2 2013 with top line dataexpected inQ4 2014. AbbVie and Galapagos signed a worldwide license agreementwherebyAbbVie will be responsible for further development and commercializationafterPhase 2b. Galapagos is also progressing two other clinical developmentprogramswith clinical readouts expected in 2013: GLPG0187, a novel integrinreceptorantagonist in development for metastasis, is in a Phase 1b patientstudy;GLPG0974 is the first inhibitor of GPR43 to be evaluated clinicallyfor thetreatment of IBD. This program is in a second Phase 1 study and willstart aProof of Concept Phase 2 study in Q2 2013.The Galapagos Group, including fee-for-service companies BioFocus,Argenta andFidelta, has over 800 employees and operates facilities in five countries,withglobal headquarters in Mechelen, Belgium. Further information about thecompanyand its drug development programs can be found online at: www.glpg.com
Galapagos forward-looking statements
This release may contain forward-looking statements, including, withoutlimitation, statements containing the words "believes," "anticipates,""expects," "intends," "plans," "seeks," "estimates," "may," "will,""could,""stands to," and "continues," as well as similar expressions. Suchforward-looking statements may involve known and unknown risks,uncertainties and otherfactors which might cause the actual results, financial condition,performanceor achievements of Galapagos, or industry results, to be materiallydifferentfrom any historic or future results, financial conditions, performance orachievements expressed or implied by such forward-looking statements. Giventhese uncertainties, the reader is advised not to place any undue relianceonsuch forward-looking statements. These forward-looking statements speakonly asof the date of publication of this document. Galapagos expressly disclaimsanyobligation to update any such forward-looking statements in this documenttoreflect any change in its expectations with regard thereto or any change inevents, conditions or circumstances on which any such statement is based,unlessrequired by law or regulation.
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Source: Galapagos NV via Thomson Reuters ONE
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Contact
Galapagos NV
Onno van de Stolpe
CEO
Tel: +31 6 2909 8028
Elizabeth Goodwin
Director Investor Relations
Tel: +31 6 2291 6240
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