Servier and Galapagos initiate strategic alliance in osteoarthritis
(Thomson Reuters ONE) -
· Joint discovery and development of novel small molecules for
osteoarthritis
· Research access payment of ?7 million for Galapagos
· R&D, regulatory and other milestones for Galapagos could reach ?290
million, plus royalties
· Servier to commercialize drugs worldwide, except for the U.S. where
Galapagos retains exclusive rights
Paris, France and Mechelen, Belgium; 1 July 2010 - Servier, a leading French
pharmaceutical company, and Galapagos NV (Euronext: GLPG) announced today that
they have entered into a multi-year strategic alliance to develop new therapies
in osteoarthritis (OA).
The alliance between Servier and Galapagos builds on novel OA drug targets
discovered by Galapagos through its proprietary platform. Galapagos will be
responsible for the discovery and development of new small molecule candidate
drugs against these targets. Some of the OA-research programs are in the
advanced stages of drug discovery. Servier will have an exclusive option to
license each small molecule program after the completion of Phase I clinical
trials by Galapagos. Upon exercise of each option, Servier will be responsible
for the further clinical development, registration and commercialization. For
any marketed products, Galapagos retains exclusive U.S. commercialization
rights.
Under the terms of the agreement, Galapagos will receive research access
payments of ?7 million from Servier. 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.
"We will leverage Galapagos' novel targets and drug discovery capabilities
through this alliance with Servier, our eighth risk-sharing alliance with a
pharmaceutical company," said Onno van de Stolpe, CEO of Galapagos. "Retaining
the US rights to any products from this alliance is important to Galapagos,
especially as the US has a large need for disease-modifying osteoarthritis
therapies."
"This alliance is in line with Servier's commitment to develop disease-modifying
drugs for sufferers of uncured diseases, such as OA, a debilitating disease that
affects 12% of the world population, leading to severe and costly handicaps,"
said Emmanuel Canet, Head of R&D at Servier. "Through this collaboration with
Galapagos, we gain access to validated OA targets and molecules that have shown
promise in altering the course of the disease," said Bernard Marchand, Head of
Research at Servier.
About osteoarthritis
Osteoarthritis 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. Cartilage is the slippery tissue that covers
the ends of bones in a joint. Healthy cartilage allows bones to glide over one
another. It also absorbs energy from the shock of physical movement. In OA,
the surface layer of cartilage breaks down and wears away. This allows bones
under the cartilage to rub together, causing pain, swelling, and loss of motion
of the joint. Over time, the joint may lose its normal shape. Also, bone spurs
called osteophytes - may grow on the edges of the joint. Bits of bone or
cartilage can break off and float inside the joint space. This causes more pain
and damage. 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 Research Group is a privately-run French research based pharmaceutical
company with a 2009 turnover of ?3.6 billion. Current therapeutic domains for
Servier medicines are 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 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, Eli 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
Servier Laboratories Galapagos
NV
Servier Communication Department Onno van de Stolpe, CEO
Tel: +33 1 55 72 40 82 Tel: +31 6 2909 8028
laurent.sorcelle(at)fr.netgrs.com
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#1428563]
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
All reproduction for further distribution is prohibited.
Source: Galapagos NV via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 01.07.2010 - 07:30 Uhr
Sprache: Deutsch
News-ID 23291
Anzahl Zeichen: 0
contact information:
Town:
Mechelen
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 250 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Servier and Galapagos initiate strategic alliance in osteoarthritis"
steht unter der journalistisch-redaktionellen Verantwortung von
Galapagos NV (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
