Galapagos achieves milestone in osteoporosis collaboration with Lilly
(Thomson Reuters ONE) - Mechelen, Belgium; 23 July 2009 - Galapagos NV (Euronext: GLPG)announced today that it has reached a milestone in its osteoporosiscollaboration with Eli Lilly and Company (NYSE:LLY), triggering apayment of ?2.5 million from Lilly.In December 2007, Lilly and Galapagos initiated an alliance todevelop new medicines for the treatment of osteoporosis. Theagreement provides Lilly access to 12 of Galapagos' novel targetbased programs in osteoporosis, with Galapagos responsible for thedevelopment of drug candidates through to Phase IIa clinical Proof ofConcept. The milestone announced today is the result of one of theseprograms reaching the next phase of medicinal chemistryoptimization. To date, Galapagos has received a total of ?3.9million in milestone payments from Lilly under the alliance."We remain on-track in the osteoporosis alliance with Lilly," saidOnno van de Stolpe, Galapagos' CEO. "Through milestone payments suchas the one announced today, we are able to finance the progression ofmultiple osteoporosis drug candidates toward the clinic."About osteoporosisOsteoporosis is principally an age-related disease, when hormonelevels essential for maintaining bone density decline. Thedevelopment of osteoporosis is characterized by a clinicallysignificant reduction in bone density. The disease is four times ascommon in women as men. The enormous health care costs associatedwith osteoporosis, estimated at $15 billion per year in the USAalone, are related to the greatly increased incidence of fractures inosteoporosis patients.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.
Datum: 23.07.2009 - 07:34 Uhr
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