Galapagos' affiliate BioFocus extends collaboration with Amgen into 2012
(Thomson Reuters ONE) -
Mechelen, Belgium; 17 December 2010 - Galapagos NV (Euronext: GLPG) announced
today that its BioFocus service division has extended its contract with Amgen
for 2011 and 2012, with an expansion to include target discovery and validation
services. Under the terms of the extended agreement, Galapagos will receive
?2.0 M ($2.6 M) in research fees for the first year. Additionally, Galapagos is
eligible to receive payments of access fees and success-based milestones.
The collaboration, which was initiated in 2002 and extended in 2006 and again in
2008, involves the identification of new molecules against various drug
targets. Starting in 2011, the collaboration will involve the addition of
BioFocus' unique target discovery platform to deliver novel targets to support
Amgen's therapeutic programs.
"We are pleased to have delivered well in our long-standing collaboration with
Amgen, resulting in an extension for the third time," said Dr. Chris Newton,
Senior VP Galapagos Services. "With each extension, Amgen has expanded the
range of services provided by BioFocus, with target discovery being included
this time around. We are very proud to win this opportunity to deliver high
quality, innovative modes of action to Amgen."
About BioFocus
BioFocusaims 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. 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
CONTACT
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
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limitation, statements containing the words "believes," "anticipates,"
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"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
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achievements expressed or implied by such forward-looking statements. Given
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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
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Source: Galapagos NV via Thomson Reuters ONE
[HUG#1473526]
Unternehmensinformation / Kurzprofil:
Datum: 17.12.2010 - 07:31 Uhr
Sprache: Deutsch
News-ID 49812
Anzahl Zeichen: 5033
contact information:
Town:
Mechelen
Kategorie:
Business News
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