Galapagos expands strategic alliance in metabolic disease with Merck
& Co., Inc.
(Thomson Reuters ONE) - * Galapagos to discover small molecule candidate drugs for pre-clinical development in atherosclerosis* Total alliance milestones more than double to over ?400 million, plus royalties on worldwide salesMechelen, Belgium 14 October 2009 - Galapagos NV (Euronext: GLPG)announced today that it has expanded its global strategic alliance inmetabolic diseases with an affiliate of Merck & Co., Inc toincorporate the development of new therapies for atherosclerosis.Galapagos will be responsible for the discovery and pre-clinicaldevelopment of new small molecule candidate drugs based on novelGalapagos targets. The alliance will make use of Galapagos'proprietary target discovery platform for identification of noveltargets in atherosclerosis, as well as in obesity and diabetes.After validation, targets will be selected by a joint steeringcommittee and entered into screening and chemistry by Galapagos.Merck will have an exclusive option to license in each candidate forclinical development and commercialization on a worldwide basis.Upon exercise of such option, Merck will be responsible for thedevelopment and commercialization of the candidate drug. Galapagosmay execute Phase I clinical studies and will have the right tofurther develop and commercialize certain compounds for which Merckdoes not exercise its exclusive option.In January 2009, Galapagos announced an alliance with Merck indiabetes and obesity, with milestone payments with the potential toexceed ?170 million. Under the terms of this expanded agreement,that now includes small molecule candidate drugs for pre-clinicaldevelopment in atherosclerosis, Galapagos is eligible to receiveresearch, regulatory and sales milestone payments that may total inexcess of ?400 million. In addition Galapagos is eligible to receiveroyalties upon commercialization of any products covered under theagreement.The expansion announced today is separate from Galapagos' alliancewith Merck in inflammatory diseases announced in April 2009."We are pleased to expand our relationship with Merck, a highlysynergetic and decisive partner in the metabolic and inflammationalliances," said Onno van de Stolpe, CEO. "Today's expansion intoatherosclerosis fits very well into our strategy of leveraging thenovelty coming out of Galapagos' R&D approach.""Merck's extended collaboration with Galapagos underscores ourongoing commitment to identifying novel therapeutic targets forfighting cardiovascular and metabolic diseases," said CatherineStrader, Vice President, External Basic Research, Merck ResearchLaboratories.About atherosclerosisAtherosclerosis, commonly referred to as hardening of the arteries,involves the thickening of the artery walls as a result of thebuild-up of fatty materials such as cholesterol. Atherosclerosis isconsidered the most common underlying cause of strokes, heartattacks, and most cardiovascular diseases in general, includingcongestive heart failure. Treatment includes lifestyle changes andmedicines. Global sales of cardiovascular drugs exceeded $95 billionin 2008, making it the largest therapeutic area worldwide. Currentresearch is focused on reducing side effects and costs for newatherosclerosis therapies.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,atherosclerosis, and metabolic diseases. It has established risksharing alliances with GSK, Janssen Pharmaceutica, Eli Lilly andMerck & Co., Inc. Through an alliance with MorphoSys, Galapagos isalso developing new antibody therapies in bone and joint diseases. Its division BioFocus offers a full suite of target-to-drugdiscovery products and services to pharmaceutical and biotechcompanies and to patient foundations, encompassing target discoveryand validation, screening and drug discovery through to delivery ofpre-clinical candidates. Galapagos currently employs 495 people andoperates facilities in six countries, with global headquarters inMechelen, Belgium. More info at: www.glpg.comCONTACTGalapagos 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.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 14.10.2009 - 07:30 Uhr
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