Galapagos receives ?7.5 million in Servier alliances
(Thomson Reuters ONE) -
Mechelen, Belgium; 6 March 2013 - Galapagos NV (Euronext: GLPG) today announced
the achievement of milestones in the alliances with Servier in osteoarthritis
and oncology. These milestones triggered payments to Galapagos totaling ?7.5
million, contributing to 2012 Group revenues.
The osteoarthritis (OA) alliance with Servier was initiated in July 2010 to
deliver new oral medicines. In October 2011 Galapagos announced a second
alliance with Servier for innovative treatments in oncology. In both alliances,
Galapagos is responsible for the discovery and development of new candidate
drugs against novel targets. Galapagos is eligible to receive in excess of ?500
million in success-based milestones, plus royalties on commercial sales. The
company also retains exclusive US commercialization rights to all compounds
discovered.
"We are very proud to announce the delivery of high quality compounds against
our novel targets in both osteoarthritis and oncology," said Onno van de Stolpe,
CEO of Galapagos. "Our alliances are proving to be very productive, with a
total of eight pre-clinical candidates, 10 clinical programs, and two in-
licensed programs delivered to alliance partners."
"We are very pleased with the progress of our alliances with Galapagos," said
Bernard Marchand, Head of Discovery Research at Servier. "We are confident that
they will continue to deliver results."
About Galapagos' osteoarthritis alliance with Servier
Servier and Galapagos entered into an alliance in July 2010 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. 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 Galapagos' oncology alliance with Servier
In October 2011 Servier and Galapagos announced an alliance agreement building
on a combination of novel Galapagos and Servier targets in oncology. Galapagos
will be responsible for the discovery and development of new candidate drugs
against these targets. Servier will have an exclusive option to license each
program after the completion of pre-clinical development by Galapagos. Servier
will be responsible for further clinical development, registration and
commercialization. Galapagos retains exclusive rights for clinical development,
registration and commercialization in the United States. Galapagos is eligible
to receive discovery, development, regulatory and other milestone payments that
could reach ?260 million, plus royalties upon commercialization of products by
Servier.
About Servier
Servier is a privately-run research based pharmaceutical company with a 2012
turnover of ?3.9 billion. Servier reinvests 25% of its turnover in 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 specialized in novel modes-of-action,
with a large pipeline of four clinical, six pre-clinical, and 30 discovery
small-molecule and antibody programs in cystic fibrosis, inflammation,
antibiotics, metabolic disease, and other indications.
GLPG0634 is an orally-available, selective inhibitor of JAK1 for the treatment
of rheumatoid arthritis and potentially other inflammatory diseases, about to
enter Phase 2b studies. AbbVie and Galapagos signed a worldwide license
agreement whereby AbbVie will be responsible for further development and
commercialization after Phase 2b. Galapagos has another selective JAK1
inhibitor in Phase 2 in lupus and psoriasis, GSK2586184 (formerly GLPG0778, in-
licensed by GlaxoSmithKline in 2012). GLPG0187 is a novel integrin receptor
antagonist currently in a Phase 1b patient study in metastasis. GLPG0974 is the
first inhibitor of GPR43 to be evaluated clinically for the treatment of IBD;
this program will start a Proof of Concept Phase 2 study in Q2 2013.
The Galapagos Group, including fee-for-service companies BioFocus, Argenta and
Fidelta, has over 800 employees and operates facilities in five countries, with
global headquarters in Mechelen, Belgium. Further information at: www.glpg.com
CONTACTS
Galapagos NV
Onno van de Stolpe, Chief Executive Officer
Tel: +31 6 2909 8028
Elizabeth Goodwin, Director Investor Relations
Tel: +31 6 2291 6240
ir(at)glpg.com
Galapagos forward-looking statements
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.
Galapagos receives ?7.5 million in Servier alliances:
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Source: Galapagos NV via Thomson Reuters ONE
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