Galapagos delivers candidate drug in osteoarthritis alliance with Servier
(Thomson Reuters ONE) -
Mechelen, Belgium; 24 July 2012 - Galapagos NV (Euronext: GLPG) announced today
that it has identified the first pre-clinical candidate compound in its
osteoarthritis alliance with Servier. The compound inhibits a novel mechanism
of action discovered by Galapagos. This achievement triggered an undisclosed
milestone payment to Galapagos.
In July 2010, Servier and Galapagos announced their alliance to develop new oral
medicines for the treatment of osteoarthritis (OA). Galapagos is responsible
for the discovery and development of new candidate drugs, and Servier has an
exclusive option to license these after the completion of Phase I clinical
trials. Galapagos retains exclusive US commercialization rights to all
compounds discovered.
"OA is a disease of high unmet medical need, and progress of OA-therapies has
been slow in the pharma industry. We therefore are very pleased to have
delivered a pre-clinical candidate," said Onno van de Stolpe, Chief Executive
Officer of Galapagos. "This achievement also marks the third alliance with a
different pharma partner in which Galapagos has identified a pre-clinical
candidate. We are now starting with all the preparations to proceed further
into Phase I."
"It is a major achievement in this therapeutic area where no disease-modifying
treatments are currently available," said Bernard Marchand, Head of Discovery
Research at Servier. "We are looking forward to seeing this compound hopefully
enter the clinic after successful completion of the remaining pre-clinical
requirements and are encouraged in our efforts to change the lives of people
suffering from this debilitating disease."
About Galapagos' osteoarthritis alliance with Servier
The alliance between Servier and Galapagos builds on novel osteoarthritis drug
targets discovered by Galapagos through its proprietary platform. For any
marketed products, Servier will have the rights to development, registration and
commercialization, but Galapagos retains exclusive U.S. commercialization
rights. 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.
About osteoarthritis
Osteoarthritis (OA) is the most common form of arthritis, typically affecting
people aged 45 and older. It is a degenerative disease characterized by joint
destruction and loss of cartilage. No currently available treatments prevent OA
or even reverse or block the disease process. Treatment of OA involves weight
control, exercise, and pain relief, most frequently with non-steroidal anti-
inflammatory drugs (NSAIDs) that relieve the symptoms without changing the
course of the underlying disease. Many OA patients have pain that persists
despite these measures and often then have to undergo costly surgical procedures
to replace their damaged joints. It is expected that with the aging of the
population, more individuals will be prone to develop OA. As mobility of
seniors is of high importance to maintaining a high quality of life, preventing
the severity of OA is seen as an immense clinical need over the next decade.
About Servier
Servier is a privately-run research based pharmaceutical company with a 2011
turnover of ?3.9 billion. Servier is dedicating 25% of its turnover to Research
& Development in cardiovascular, metabolic, neurological, psychiatric and bone
and joint diseases as well as oncology. Servier is established in 140 countries
worldwide with over 20,000 employees. More info at: www.servier.com
About Galapagos
Galapagos (Euronext: GLPG; OTC: GLPYY) is a mid-size biotechnology company
specialized in the discovery and development of small molecule and antibody
therapies with novel modes-of-action. The Company is progressing its JAK1
inhibitor GLPG0634, as well as one of the largest pipelines in biotech, with
four programs in development and over 30 discovery programs. The Galapagos
Group has about 800 employees and operates facilities in six countries, with
global headquarters in Mechelen, Belgium. More info at: www.glpg.com
CONTACTS
Servier Galapagos NV
Servier Communication Department Elizabeth Goodwin,
Tel: +33 1 55 72 60 37 Director Investor Relations
presse(at)servier.fr Tel: +31 6 2291 6240
ir(at)glpg.com
This release may contain forward-looking statements, including, without
limitation, statements containing the words "believes," "anticipates,"
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and "continues," as well as similar expressions. Such forward-looking
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which might cause the actual results, financial condition, performance or
achievements of Galapagos, or industry results, to be materially different from
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Source: Galapagos NV via Thomson Reuters ONE
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