Galapagos achieves milestones in two strategic alliances
(Thomson Reuters ONE) -
Mechelen, Belgium; 18 October 2010 - Galapagos NV (Euronext: GLPG) announced
today achievement of milestones totaling ?2.5 million in two of its strategic
alliances.
In the alliance with Janssen Pharmaceutica NV (Janssen) in rheumatoid arthritis,
Galapagos received a milestone payment of ?1.5 million. To date, Galapagos has
earned more than ?24 million in payments from Janssen under this alliance.
In Galapagos' alliance with GlaxoSmithKline (GSK) in the area of infectious
diseases, Galapagos received a ?1 million milestone payment. Since initiation
of this alliance at the end of 2007, Galapagos has received a total of ?6
million under the anti-infectives alliance with GSK.
"Galapagos continues to make progress across its strategic alliances, showing
that our alliance model delivers strong growth in R&D revenues," said Onno van
de Stolpe, CEO of Galapagos.
About Galapagos' alliance with Janssen Pharmaceutica in rheumatoid arthritis
In October 2007, Galapagos announced an alliance agreement with Janssen
Pharmaceutica NV (Janssen) providing Janssen with option rights to acquire
worldwide, commercial licenses to novel small molecules from Galapagos' internal
programs involving rheumatoid arthritis therapeutic targets. For each alliance
program licensed by Janssen under this alliance agreement, contingent on
discovery, development and regulatory accomplishments, Galapagos could receive
option exercise fees and milestone payments up to ?73 million, plus royalties on
net sales of each approved new RA drug.
About Galapagos' alliance with GlaxoSmithKline in infectious diseases
GSK and Galapagos initiated a program in December 2007 to discover and develop
novel anti-infective drug candidates for GSK's Infectious Diseases Centre of
Excellence in Drug Discovery (ID CEDD). The scope of the alliance was broadened
in January 2009 to include three additional GSK targets. Galapagos is
responsible for the discovery and development of drug candidates through to
clinical Proof of Concept, at which point GSK will have exclusive option to
license each compound for further development and commercialization on a
worldwide basis.
Under the terms of the alliance, Galapagos could be eligible to receive up to
?95 million in upfront fees, development and regulatory milestones payments for
a product candidate. If a product is commercialized, Galapagos may receive up
to ?120 million for achievement of specific sales milestones. Galapagos is also
eligible to receive up to double-digit royalties on worldwide sales of alliance
products.
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. The Galapagos Group 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
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.
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Source: Galapagos NV via Thomson Reuters ONE
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Datum: 18.10.2010 - 17:46 Uhr
Sprache: Deutsch
News-ID 45864
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