Galapagos and the National Cancer Institute sign compound management agreement
(Thomson Reuters ONE) -
Mechelen, Belgium and Saffron Walden, UK; 12 October 2010 - Galapagos NV
(Euronext: GLPG) announced today that the Compound Focus subsidiary of its
BioFocus service division has signed an agreement with the National Cancer
Institute (NCI), part of the U.S. National Institutes of Health (NIH). Under
the terms of the agreement, BioFocus will provide compound management services
to NCI for a base period of three years for a total of up to $5 million (?3.7
M), with two one-year extension options.
BioFocus runs a compound management facility for a number of industrial and U.S.
government customers out of its Compound Focus, Inc. subsidiary in South San
Francisco. Under the agreement announced today, Compound Focus will establish a
Small Molecule Repository for the NCI Chemical Biology Consortium (CBC). This
repository will form part of the CBC's drug discovery and development platform
for new oncology therapeutics being researched by a consortium of primarily
academic institutions. The base three year contract is funded by American
Recovery and Reinvestment Act (ARRA) funds.
"We are pleased to welcome the National Cancer Institute as a new collaborator.
Compound Focus has done very well to expand their long-standing relationship
with the NIH into this new project with the NCI," said Onno van de Stolpe, CEO
of Galapagos. "Our compound management facility has met or exceeded its revenue
objectives since we acquired it in 2006, making it a solid contributor to our
service division's revenue stream."
About the NCI Chemical Biology Consortium (CBC)
The goal of CBC is to establish a complete drug discovery and development
platform for oncology therapeutics by the formation of a new and novel network
which combines academic and private drug discovery efforts with the NCI Division
of Cancer Treatment and Diagnosis' (DCTD) existing pre-clinical resources. The
project is funded in whole with U.S. Federal funds from the National Institutes
of Health, Department of Health and Human Services, under contract HHS-N-
261-2010-00079C with Compound Focus, Inc.
About Compound Focus
Compound Focus, Inc. is part of the Galapagos service division BioFocus and
provides a range of compound management services. It is home to sample
collections owned by government, academic and commercial organizations and to
theNational Institutes of Health Molecular Libraries Small Molecule Repository.
BioFocus aims to expand its partners' drug pipelines by accelerating the gene-
to-drug candidate discovery process. This is achieved through a comprehensive
discovery platform, which includes target discovery in human primary cells,
focused as well as diverse compound libraries, in vitro and cell-based
screening, structural biology, medicinal chemistry, ADME/PK services, supported
by unique chemogenomic and informatics tools, and compound library acquisition,
storage and distribution services. As a service division of Galapagos, BioFocus
has over 250 employees in four countries worldwide. More info at:
www.biofocus.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 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
CONTACTS
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#1451033]
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.
Source: Galapagos NV via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 12.10.2010 - 07:30 Uhr
Sprache: Deutsch
News-ID 45095
Anzahl Zeichen: 0
contact information:
Town:
Mechelen
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 210 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Galapagos and the National Cancer Institute sign compound management agreement"
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).
