Servier and Galapagos initiate strategic alliance for innovative treatments in oncology
(Thomson Reuters ONE) -
* Joint discovery and development of novel small molecule therapies for
cancer
* Novel cancer targets coming from Servier and Galapagos
* Research access payment of ?2 million for Galapagos
* Milestones for Galapagos could reach ?260 million, plus royalties
* Servier to develop and commercialize drugs worldwide, Galapagos retains
exclusive U.S. rights
Paris, France and Mechelen, Belgium; 3 October 2011 - Servier, a leading French
pharmaceutical company, and Galapagos NV (Euronext: GLPG) announced today that
they have entered into a multi-year strategic alliance to develop new cancer
therapies.
The alliance builds on a combination of novel Galapagos and Servier targets in
oncology. Galapagos will be responsible for the discovery and development of
new candidate drugs against these targets. Servier will have an exclusive
option to license each small molecule program after the completion of pre-
clinical development by Galapagos. Upon exercise of each option, Servier will
be responsible for further clinical development, registration and
commercialization. Galapagos retains exclusive rights for clinical development,
registration and commercialization in the United States.
Under the terms of the agreement, Galapagos will receive research access
payments of ?2 million from Servier. Galapagos is also eligible to receive
discovery, development, regulatory and other milestone payments that could reach
?260 million, plus royalties upon commercialization of products by Servier.
"Galapagos continues to deliver the innovation that research-based pharma
companies are seeking to complement their pipelines. In this new alliance,
Servier and Galapagos combine both their oncology targets and their capabilities
in cancer drug discovery," said Onno van de Stolpe, CEO of Galapagos. "Similar
to our osteoarthritis alliance with Servier, Galapagos retains the U.S. rights,
which represents a large potential, considering the unmet medical need in
cancer."
"Based on the progress made already in our osteoarthritis collaboration with
Galapagos, we are convinced of Galapagos' ability to deliver new cancer drugs
based on novel targets. This alliance complements our very innovative cancer
pipeline and is in line with Servier's commitment to develop new treatments for
sufferers of uncured diseases," said Emmanuel Canet, Head of R&D at Servier.
"We are pleased to start this collaboration in oncology with Galapagos.
Combination of our capabilities will allow the accelerated development of new
drugs against innovative targets, some of them coming directly from our
exploratory research," said Stéphane Depil, MD, PhD, in charge of Oncology R&D
at Servier.
About Servier
Servier Research Group is a privately-run French research based pharmaceutical
company with a 2010 turnover of ?3.7 billion. Current therapeutic domains for
Servier medicines are 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 programs in development and over 50
discovery programs. Through risk/reward-sharing alliances with GlaxoSmithKline,
Lilly, Janssen Pharmaceutica, Roche and Servier, Galapagos is eligible to
receive up to ?2.8 billion in downstream milestones, plus royalties. The
Galapagos Group has about 800 employees and operates facilities in six
countries, with global headquarters in Mechelen, Belgium. More info at:
www.glpg.com
CONTACT
Servier Laboratories Galapagos
NV
Servier Communication Department Onno van de
Stolpe, CEO
Tel: +33 1 55 72 40 82 Tel:
+31 6 2909 8028
laurent.sorcelle(at)fr.netgrs.com
ir(at)glpg.com
Elizabeth Goodwin, Director Investor Relations
Tel: +31 6 2291 6240
ir(at)glpg.com
This 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 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.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Galapagos NV via Thomson Reuters ONE
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