Galapagos delivers second pre-clinical candidate in alliance with
GlaxoSmithKline and receives ?5.2
Galapagos delivers second pre-clinical candidate in alliance with GlaxoSmithKline and receives ?5.2 million in milestone payments
(Thomson Reuters ONE) - Mechelen, Belgium; 7 July 2009 - Galapagos NV (Euronext: GLPG)announced today that it has successfully identified a secondpre-clinical candidate compound in its osteoarthritis alliance withGlaxoSmithKline (GSK). Galapagos also reached a milestone on anothercompound in the alliance. Together these milestones trigger paymentstotaling ?5.2 million to Galapagos.This pre-clinical candidate is a small molecule that meets all thechemical and biological criteria set by GSK for a potential newmedicine. The candidate was developed by Galapagos against a noveltarget discovered with Galapagos' proprietary platform. The moleculeis now ready for scale up chemistry and comprehensive safetyevaluation, with the goal of entering Phase I clinical research in2010."Six months after announcing our first pre-clinical candidate in thisalliance, we are pleased to announce the delivery of a secondcandidate drug," said Onno van de Stolpe, Chief Executive Officer ofGalapagos. "This achievement illustrates that Galapagos issuccessfully progressing multiple programs across each alliance,thereby increasing the likelihood of producing novel,disease-modifying therapeutics."About the osteoarthritis allianceIn June 2006, GSK and Galapagos initiated a program to discover anddevelop disease-modifying medicines for GSK's global R&Dorganization. Through the agreement, Galapagos broadened its drugdiscovery portfolio in the field of osteoarthritis, with the aim ofdeveloping new candidates through to Proof of Concept in Phase IIa.After this point, GSK has exclusive options to further develop andcommercialize these compounds on a worldwide basis. In July 2007,GSK and Galapagos signed an expansion to include two selected GSKtargets and in December 2008, the companies further broadened thescope of the alliance through the inclusion of two more drug targets.In its osteoarthritis program with GSK, Galapagos has identified anumber of novel targets that have been validated in cellular diseasemodels and these have progressed into drug discovery. In less thanthree years, Galapagos has advanced this program from targetvalidation to drug development, delivering two pre-clinical candidatecompounds. To date, Galapagos has earned more than ?30 million inpayments from GSK under this alliance.About GalapagosGalapagos (Euronext: GLPG; OTC: GLPYY) is a drug discovery anddevelopment company with small molecule programs in bone and jointdiseases, bone metastasis, cachexia, anti-infectives and metabolicdiseases. It has established risk sharing alliances with GSK,Janssen Pharmaceutica, Eli Lilly and Merck. Through an alliance withMorphoSys, Galapagos is also developing new antibody therapies inbone and joint diseases. Its division BioFocus DPI offers a fullsuite of target-to-drug discovery products and services topharmaceutical and biotech companies and to patient foundations,encompassing target discovery and validation, screening and drugdiscovery through to delivery of pre-clinical candidates. Galapagoscurrently employs 490 people and operates facilities in sixcountries, with global headquarters in Mechelen, Belgium. More infoat: www.glpg.com.CONTACTGalapagos NVOnno van de Stolpe, CEOTel: +31 6 2909 8028ir(at)glpg.comThis 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 assimilar expressions. Such forward-looking statements may involveknown and unknown risks, uncertainties and other factors which mightcause the actual results, financial condition, performance orachievements of Galapagos, or industry results, to be materiallydifferent from any historic or future results, financial conditions,performance or achievements expressed or implied by suchforward-looking statements. Given these uncertainties, the reader isadvised not to place any undue reliance on such forward-lookingstatements. These forward-looking statements speak only as of thedate of publication of this document. Galapagos expressly disclaimsany obligation to update any such forward-looking statements in thisdocument to reflect any change in its expectations with regardthereto or any change in events, conditions or circumstances on whichany such statement is based, unless required by law or regulation.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 07.07.2009 - 07:30 Uhr
Sprache: Deutsch
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