Galapagos receives ?3.7 million grant for cystic fibrosis program
(Thomson Reuters ONE) -
Mechelen, Belgium; 28 October 2010 - Galapagos NV (Euronext: GLPG) announces
today that it has been awarded a ?3.7 million grant from the Flemish agency for
Innovation by Science and Technology (IWT).
The three-year project "Disease-modifying drug discovery in cystic fibrosis"
focuses on Galapagos' cystic fibrosis (CF) program based on novel drug targets,
with the goal to deliver a pre-clinical candidate. Galapagos will collaborate
on this project with the Center for Human Genetics at the KU Leuven.
"Galapagos is breaking new ground in CF with its novel targets. We are pleased
that the IWT chooses to support these efforts. The collaboration with the
Center for Human Genetics helps us to prioritize the novel targets which could
make the most difference to CF patients," said Graham Dixon, SVP Drug Discovery
for Galapagos. "This grant increases the chances of delivering a pre-clinical
candidate by our target date of 2013."
About Galapagos' cystic fibrosis programs
Galapagos announced in March 2010 the decision to discover, develop, and launch
medicines in orphan disease areas, with cystic fibrosis as the first
indication. The CF Foundation and Galapagos entered a target discovery
collaboration in 2005, which resulted in 19 novel disease-modifying targets that
have been validated in the standard pre-clinical model for this disease.
Galapagos secured all rights to these targets and has started to develop small
molecule therapies against a select group of these targets. Galapagos will
retain intellectual property and commercial rights on any compounds reaching the
market. Galapagos aims to develop disease-modifying agents with clear efficacy
benefits relative to existing CF therapies, which only treat the symptoms of the
disease. A first pre-clinical candidate is scheduled to be nominated by 2013.
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
Graham Dixon, SVP Drug Discovery
Tel: +32 473 86 87 51
Elizabeth Goodwin, Director Investor Relations
Tel: +31 6 2291 6240
ir(at)glpg.com
Cautionary note regarding forward-looking statements
This release may contain forward-looking statements, including, without
limitation, statements containing the words "believes," "anticipates,"
"expects," "intends," "plans," "seeks," "estimates," "may," "will," "could,"
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#1456268]
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Source: Galapagos NV via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 28.10.2010 - 07:30 Uhr
Sprache: Deutsch
News-ID 46782
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