Galapagos Aannounces Milestone in Collaboration with Boehringer
MECHELEN, Belgium; 20 July 2007
- Galapagos NV (Euronext & LSE: GLPG) announced today that its
BioFocus DPI service division has received a milestone payment in
the autoimmune discovery research collaboration with Boehringer
The three-year collaboration
announced in January 2006 involves an expansion of BioFocus DPI's
SilenceSelect® sh-RNA based gene collection with an additional
gene set, the development of a dedicated cellular assay in the
field of autoimmune diseases, and its application in a target
discovery screen for Boehringer Ingelheim's autoimmune discovery
research. Galapagos obtained upfront fees, will continue to
receive research and development funding, and will receive
milestone fees when certain drug discovery criteria are met.
Should all criteria on a target be achieved, total potential
contract value for Galapagos may exceed €2 million.
"This milestone speaks to
BioFocus DPI's ability to deliver on longer term, higher value
collaborations," said Onno van de Stolpe, Chief Executive Officer
of Galapagos. "We are delighted that the collaboration with
Boehringer Ingelheim has progressed as planned and is on track to
continue delivering value."
Galapagos (Euronext Brussels, GLPG; Euronext
Amsterdam, GLPGA; London AiM: GLPG) is a drug discovery company
with clinical and pre-clinical programs in bone and joint diseases,
cachexia, and menopausal hot flashes. Its division BioFocus
DPI offers a full suite of target-to-drug discovery products and
services to pharmaceutical and biotech companies, encompassing
target discovery and validation, screening and drug discovery
through to delivery of pre-clinical candidates. BioFocus DPI
also provides adenoviral reagents for rapid identification and
validation of novel drug targets, compound libraries for drug
screening as well as chemogenomics and ADMET
database products to select targets and
compounds. Galapagos currently employs 450 people and
operates facilities in eight countries, with global
headquarters in Mechelen, Belgium. More information about
Galapagos and BioFocus DPI can be found at www.glpg.com
Onno van de Stolpe, CEO
Tel: +31 6 2909 8028
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ADMET is the acronym for Absorption,
Distribution, Metabolism, Excretion, and Toxicity: Meeting
parameters against these five criteria is critical to the success
of a pharmaceutical compound as a drug.
Posted: July 2007