Galapagos receives ?4 million in milestones from Servier
(Thomson Reuters ONE) -
Mechelen, Belgium; 8 February 2011 - Galapagos NV (Euronext: GLPG) announced
today that it reached milestones in its osteoarthritis alliance with Servier,
resulting in payments in 2010 revenues totaling ?4 million from Servier.
In July 2010, Servier and Galapagos announced their alliance to develop new
medicines for the treatment of osteoarthritis. Galapagos is responsible for the
discovery and development of new candidate drugs and Servier has an exclusive
option to license these after the completion of Phase I clinical trials by
Galapagos. To date, Galapagos has received a total of ?11 million in payments
from Servier under the alliance.
"We are delighted to reach the first milestones in the osteoarthritis alliance
with Servier just six months after initiating the alliance," said Onno van de
Stolpe, Galapagos' CEO. "The milestones announced today involve the
optimization of molecules that have shown promise in altering the course of
osteoarthritis."
"We are very pleased with the progress of our alliance with Galapagos so far.
This is in line with Servier's commitment to develop disease-modifying drugs for
sufferers of uncured diseases, such as OA, a debilitating disease that affects
12% of the world population, leading to severe and costly handicaps," said
Emmanuel Canet, Head of R&D at Servier.
About Galapagos' osteoarthritis alliance with Servier
The alliance between Servier and Galapagos builds on novel osteoarthritis drug
targets discovered by Galapagos through its proprietary platform. For any
marketed products, Servier will have the rights to development, registration and
commercialization, but Galapagos retains exclusive U.S. commercialization
rights. Galapagos is also eligible to receive discovery, development,
regulatory and other milestone payments that could reach ?290 million, plus
royalties upon commercialization of products outside the U.S. covered under the
agreement.
About osteoarthritis
Osteoarthritis (OA) is the most common form of arthritis, typically affecting
people aged 45 and older. It is a degenerative disease characterized by joint
destruction and loss of cartilage. Cartilage is the slippery tissue that covers
the ends of bones in a joint. Healthy cartilage allows bones to glide over one
another. It also absorbs energy from the shock of physical movement. In OA,
the surface layer of cartilage breaks down and wears away. This allows bones
under the cartilage to rub together, causing pain, swelling, and loss of motion
of the joint. Over time, the joint may lose its normal shape. Also, bone spurs
called osteophytes - may grow on the edges of the joint. Bits of bone or
cartilage can break off and float inside the joint space. This causes more pain
and damage. No currently available treatments prevent OA or even reverse or
block the disease process. Treatment of OA involves weight control, exercise,
and pain relief, most frequently with non-steroidal anti-inflammatory drugs
(NSAIDs) that relieve the symptoms without changing the course of the underlying
disease. Many OA patients have pain that persists despite these measures and
often then have to undergo costly surgical procedures to replace their damaged
joints. It is expected that with the aging of the population, more individuals
will be prone to develop OA. As mobility of seniors is of high importance to
maintaining a high quality of life, preventing the severity of OA is seen as an
immense clinical need over the next decade.
About Servier
Servier is a privately-run research based pharmaceutical company with a 2010
turnover of ?3.7 billion. Servier is dedicating 25% of its turnover to Research
& Development in cardiovascular, metabolic, neurological, psychiatric and bone
and joint diseases as well as oncology. Servier is established in 140 countries
worldwide with over 20,000 employees. More info at: www.servier.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 seven clinical and over 50 small molecule
discovery/pre-clinical programs. Through risk/reward-sharing alliances with
GlaxoSmithKline, Lilly, Janssen Pharmaceutica, Roche and Servier, Galapagos is
eligible to receive up to ?2.5 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
Servier Laboratories |Galapagos NV
Servier Communication Department|
Tel: +33 1 55 72 40 82 |Onno van de Stolpe, CEO
laurent.sorcelle(at)fr.netgrs.com |
|Tel: +31 6 2909 8028
|
|ir(at)glpg.com
|
|
|
|Elizabeth Goodwin, Director Investor
|Relations
|
|Tel: +31 6 2291 6240
|
|ir(at)glpg.com
|
|
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Source: Galapagos NV via Thomson Reuters ONE
[HUG#1486238]
Unternehmensinformation / Kurzprofil:
Datum: 08.02.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 51176
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contact information:
Town:
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Kategorie:
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