Galapagos achieves milestones in osteoporosis alliance
(Thomson Reuters ONE) -
Mechelen, Belgium; 25 May 2010 - Galapagos NV (Euronext: GLPG) announced today
that it has reached milestones in its osteoporosis alliance with Eli Lilly and
Company, resulting in payments of ?2.9 million from Lilly.
In 2008, Lilly and Galapagos initiated their alliance to develop new medicines
for the treatment of osteoporosis. The alliance agreement provides Lilly access
to 12 of Galapagos' novel target based programs in osteoporosis, with Galapagos
responsible for the development of drug candidates through to Phase IIa clinical
Proof of Concept. To date, Galapagos has received a total of ?9.8 million in
payments from Lilly under the alliance.
"Our drug discovery approach has shown substantial progress despite the
challenges intrinsic to working in the osteoporosis field," said Onno van de
Stolpe, Galapagos' CEO. "The lead molecules that we have identified thus far
show bone-building properties and we are further optimizing these molecules to
deliver orally-available small molecules to Lilly's development team."
About Galapagos
Galapagos
biotechnology company specialized in the discovery and development of small
molecule and antibody therapies with novel modes-of-action. The Company is
progressing one of the largest pipelines in biotech, with four clinical and over
50 small molecule discovery/pre-clinical programs. Through risk/reward-sharing
alliances with GlaxoSmithKline, Lilly, Janssen Pharmaceutica, Merck & Co. and
Roche, Galapagos is eligible to receive up to ?3 billion in downstream
milestones, plus royalties. Together with its BioFocus and Argenta service
operations, Galapagos has over 670 employees and operates facilities in six
countries, with global headquarters in Mechelen, Belgium. More info at:
www.glpg.com
CONTACT
Galapagos NV
Onno van de Stolpe, CEO
Tel: +31 6 2909 8028
ir(at)glpg.com
Elizabeth Goodwin, Director Investor Relations
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,"
"expects," "intends," "plans," "seeks," "estimates," "may," "will," "could,"
"stands to," and "continues," as well as similar expressions. Such
forward-looking statements may involve known and unknown risks, uncertainties
and other factors which might cause the actual results, financial condition,
performance or achievements of Galapagos, or industry results, to be materially
different from any historic or future results, financial conditions, performance
or achievements expressed or implied by such forward-looking statements. Given
these uncertainties, the reader is advised not to place any undue reliance on
such forward-looking statements. These forward-looking statements speak only as
of the date of publication of this document. Galapagos expressly disclaims any
obligation to update any such forward-looking statements in this document to
reflect any change in its expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is based, unless
required by law or regulation.
[HUG#1418253]
Unternehmensinformation / Kurzprofil:
Datum: 25.05.2010 - 07:30 Uhr
Sprache: Deutsch
News-ID 21368
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contact information:
Town:
Mechelen
Kategorie:
Business News
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