Galapagos business update
(Thomson Reuters ONE) - Mechelen, Belgium; 13 November 2009 - Galapagos NV (Euronext: GLPG)announces today that third quarter 2009 operational and financialresults were in line with management expectations. These resultsencourage the Company to retain full year guidance of ?100 millionrevenues, a growth of 30% compared to 2008. Galapagos' servicedivision BioFocus will significantly increase its cash contributionto the Group result for the full year 2009. With operational cashburn also on track, Galapagos management increases guidance foryear-end 2009 cash position to ?38 million due to the successful?18.2 million private placement completed in October.Galapagos also achieved progress in its development programs in thethird quarter. The Company announced that its most advancedfirst-in-class program, GLPG0259 for rheumatoid arthritis,demonstrated safety and an excellent pharmacokinetic profile in afirst Phase I study; this compound started a second Phase I study inSeptember. Galapagos has completed its first-in-human trial for theIRA program in bone metastasis (GLPG0187) and expects to announcetop-line results at the start of 2010. With Nanocort starting PhaseII studies for the treatment of MS flares shortly and the firstcandidate drug from the osteoarthritis alliance with GSK entering theclinic next month, Galapagos is on-track to have four programs inclinical development by the end of 2009.Furthermore in the third quarter, the Company announced milestones inits arthritis alliance with GlaxoSmithKline and its osteoporosisalliance with Lilly. BioFocus signed agreements with Procter &Gamble and Schering-Plough, and strengthened its network ofcutting-edge capabilities through partnerships with Oncodesign andDiscoveRx. In September, Galapagos announced a collaboration withCharley's Fund and the Nash Avery Foundation to investigate thepotential effectiveness of Galapagos' SARM candidate drug (GLPG0492)for the treatment of Duchenne muscular dystrophy. In October,Galapagos reached the first milestone in the anti-infectives alliancewith GlaxoSmithKline and expanded the metabolic diseases alliancewith Merck & Co to include atherosclerosis.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 withGlaxoSmithKline, Janssen Pharmaceutica, Eli Lilly and Merck and Co.Through an alliance with MorphoSys, Galapagos is also developing newantibody therapies in bone and joint diseases. Its division BioFocusoffers a full suite of target-to-drug discovery products and servicesto pharmaceutical 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.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: 13.11.2009 - 07:31 Uhr
Sprache: Deutsch
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