Galapagos achieves first milestone in anti-infectives alliance with
GlaxoSmithKline
(Thomson Reuters ONE) - Mechelen, Belgium; 7 October 2009 - Galapagos NV (Euronext: GLPG)announced today that it has reached the first milestone in itsantibacterials and antivirals alliance with GlaxoSmithKline (GSK).For achieving this milestone, Galapagos receives a ?500,000 cashpayment from GSK. To date, Galapagos has earned ?4 million inpayments from GSK under this alliance.In December 2007, GSK and Galapagos initiated a program to discoverand develop novel anti-infective drug candidates for GSK's InfectiousDiseases Centre of Excellence in Drug Discovery (ID CEDD). The scopeof the alliance was broadened in January 2009 to include threeadditional GSK targets. Galapagos is responsible for the discoveryand development of drug candidates through to clinical Proof ofConcept, at which point GSK will have exclusive option to licenseeach compound for further development and commercialization on aworldwide basis.Under the terms of the alliance, Galapagos could be eligible toreceive up to ?95 million in upfront fees, development and regulatorymilestones payments for a product candidate. If a product iscommercialized, Galapagos may receive up to ?120 million forachievement of specific sales milestones. Galapagos is also eligibleto receive up to double-digit royalties on worldwide sales ofalliance products."Our discovery platform has delivered novel chemistry against GSK'sviral and bacterial targets and we are in the process of furtheroptimizing these molecules," said Onno van de Stolpe, Chief ExecutiveOfficer of Galapagos. "We remain on-track to deliver Phase IIaclinical candidates to GSK that offer new treatment prospects for abroad range of infectious diseases."About infectious diseasesInfectious diseases are caused by pathogenic micro-organisms such asbacteria, viruses, parasites or fungi. The diseases can be spread,directly or indirectly, from one person to another[1]. Infectiousdiseases are a leading cause of death worldwide. Existing therapiesagainst infectious diseases account for an estimated ?45 billion inannual global sales[2]. The need for new therapies is on the risedue to increasing resistance of micro-organisms to availabletherapies.About GalapagosGalapagos (Euronext: GLPG; OTC: GLPYY) is a drug discovery anddevelopment company with small molecule programs in bone and jointdiseases, bone metastasis, cachexia, anti-infectives and metabolicdiseases. It has established risk sharing alliances with GSK,Janssen Pharmaceutica, Eli Lilly and Merck and Co. Through analliance with MorphoSys, Galapagos is also developing new antibodytherapies in bone and joint diseases. Its division BioFocus offers afull suite of target-to-drug discovery products and services topharmaceutical and biotech companies and to patient foundations,encompassing target discovery and validation, screening and drugdiscovery through to delivery of pre-clinical candidates. Galapagoscurrently employs 495 people and operates facilities in sixcountries, with global headquarters in Mechelen, Belgium. More infoat: www.glpg.com.CONTACTGalapagos NVOnno van de Stolpe, CEOTel: +31 6 2909 8028ir(at)glpg.comThis 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 assimilar expressions. Such forward-looking statements may involveknown and unknown risks, uncertainties and other factors which mightcause the actual results, financial condition, performance orachievements of Galapagos, or industry results, to be materiallydifferent from any historic or future results, financial conditions,performance or achievements expressed or implied by suchforward-looking statements. Given these uncertainties, the reader isadvised not to place any undue reliance on such forward-lookingstatements. These forward-looking statements speak only as of thedate of publication of this document. Galapagos expressly disclaimsany obligation to update any such forward-looking statements in thisdocument to reflect any change in its expectations with regardthereto or any change in events, conditions or circumstances on whichany such statement is based, unless required by law or regulation.[1] http://www.who.int/topics/infectious_diseases/en/[2] Source: GlaxoSmithKline Annual Report 2006This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 07.10.2009 - 07:30 Uhr
Sprache: Deutsch
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