Galapagos' affiliate Argenta and Janssen Pharmaceutica enter in integrated cancer drug discovery service agreement
(Thomson Reuters ONE) -
· Galapagos' affiliate, Argenta, to
develop candidate drugs based on multiple oncology targets
· Largest deal so far for Argenta
· Initial phase includes research
funding and success-based milestones over five years
· Option to further extend to 15
oncology target programs
Mechelen, Belgium and Harlow, UK; 4 October 2010 -Galapagos NV (Euronext: GLPG)
announced today that its affiliate, Argenta Discovery 2009 Limited, has entered
into a drug discovery service agreement with Janssen Pharmaceutica N.V.
(Janssen), aimed at delivering novel cancer drug candidates. Argenta will
provide medicinal chemistry and biology for a number of Janssen oncology
targets. The total contract value for Galapagos for the initial phase of the
collaboration could exceed ?33.5 M over a five-year period pending the
achievement of certain milestones.
This fully integrated drug discovery service agreement calls for Argenta to
perform hit-to-lead and lead optimization for a number of Janssen oncology
targets, and also activities up to pre-clinical candidate selection. Janssen
retains the option to extend the services beyond the initial set of targets, up
to a total of 15 targets.
"We are seeing an increased demand for longer term, integrated deals in our
services business, which access a variety of our drug discovery capabilities and
with Argenta's strong track record of delivering on integrated drug discovery
programs, we are well positioned to meet this growing need," said Onno van de
Stolpe, CEO of Galapagos.
About Argenta
Argenta's contract research, which includes expertise in medicinal chemistry,
computer-aided drug discovery,in vitro biology, analytics, in vivo
pharmacokinetics, pharmacology and world-leading respiratory models, has a
strong reputation for scientific excellence. Argenta was acquired by Galapagos
in February 2010 and employs over 140 people in the UK with its main operations
in Harlow. More info at: www.argentadiscovery.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 six clinical and over 50 small molecule
discovery/pre-clinical programs. Through risk/reward-sharing alliances with
GlaxoSmithKline, Lilly, Janssen Pharmaceutica, Merck & Co., Roche and Servier,
Galapagos is eligible to receive up to ?3.3 billion in downstream milestones,
plus royalties. Following the recent acquisition of the Zagreb research center,
the Galapagos Group now has over 800 employees and operates facilities in seven
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#1448656]
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Source: Galapagos NV via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 04.10.2010 - 07:31 Uhr
Sprache: Deutsch
News-ID 43854
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contact information:
Town:
Mechelen
Kategorie:
Business News
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