Galapagos delivers candidate drug in its alliance with Janssen Pharmaceutica NV and receives ?4 million milestone payment
Mechelen, Belgium; 16 January 2012 - Galapagos NV (Euronext:
GLPG) announced today that it has identified a second pre-clinical
compound in its alliance with Janssen Pharmaceutica NV. This
achievement triggered a milestone payment of €4 million to
Galapagos.
In 2007, Galapagos announced an alliance agreement with Janssen
Pharmaceutica NV providing it with option rights to acquire
worldwide, commercial licenses to certain Galapagos internal
programs. The milestone announced today relates to the delivery of
a second pre-clinical candidate developed by Galapagos.
"We are very pleased to announce the delivery of a second candidate
drug in the alliance with Janssen," said Onno van de Stolpe, CEO of
Galapagos. "Galapagos is progressing multiple programs successfully
across different alliances and delivering promising candidate
drugs."
About Galapagos
Galapagos (Euronext: GLPG; OTC: GLPYY) is a mid-size clinical stage
biotechnology company specialized in the discovery and development
of small molecule and antibody therapies with a novel
mode-of-action. The Company is progressing four clinical, six
pre-clinical, and 30 discovery programs in cystic fibrosis,
inflammation, antibiotics, metabolic disease, and other
indications.
Its lead program is GLPG0634, an orally-available, selective
inhibitor of JAK1, for the treatment of rheumatoid arthritis and
potentially other inflammatory diseases. In two four-week Phase 2
studies, GLPG0634 showed improvement in the signs and symptoms of
rheumatoid arthritis and a unique safety profile. A 6 month Phase
2b study is expected to start Q2 2013 with top line data expected
in Q4 2014. AbbVie and Galapagos signed a worldwide license
agreement whereby AbbVie will be responsible for further
development and commercialization after Phase 2b. Galapagos is also
progressing two other clinical development programs with clinical
readouts expected in 2013: GLPG0187, a novel integrin receptor
antagonist in development for metastasis, is in a Phase 1b patient
study; GLPG0974 is the first inhibitor of GPR43 to be evaluated
clinically for the treatment of IBD. This program is in a second
Phase 1 study and will start a Proof of Concept Phase 2 study in Q2
2013.
The Galapagos Group, including fee-for-service companies BioFocus,
Argenta and Fidelta, has over 800 employees and operates facilities
in five countries, with global headquarters in Mechelen, Belgium.
Further information about the company and its drug development
programs can be found online at: www.glpg.com
Contact
Galapagos NV
Onno van de Stolpe, CEO
Tel: +31 6 2909 8028
Elizabeth Goodwin, Director Investor Relations
Tel: +31 6 2291 6240
ir@glpg.com
Galapagos forward-looking statements
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.
Posted: January 2013
