Galapagos delivers candidate drug in GSK alliance and receives milestone payment
Mechelen, Belgium; 9 January 2013 - Galapagos NV (Euronext:
GLPG) announced today that it successfully delivered a fifth
pre-clinical candidate drug in its alliance with GlaxoSmithKline
(GSK) triggering a milestone payment to Galapagos.
In 2006 Galapagos and GSK initiated a drug discovery and
development alliance to deliver disease modifying drugs for GSK's
global R&D organization. In this alliance Galapagos delivered a
fifth candidate drug.
"Since the start of the alliance in 2006, Galapagos has identified
five candidate drugs of which two have been in-licensed by GSK to
date," said Onno van de Stolpe, CEO of Galapagos. "We hope that
more programs from this alliance may enter the clinic."
About Galapagos' immuno-inflammation alliance with
GlaxoSmithKline
Galapagos and GSK initiated an alliance to discover and develop
disease-modifying drugs for GSK's global R&D organization in
June 2006. Subject to achievement of certain milestone events
Galapagos has the potential to receive more than €200 million
in total milestone payments, plus up to double-digit royalties from
GSK. GSK has an exclusive option to further develop and
commercialize compounds from the alliance on a worldwide
basis.
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 novel
modes-of-action. The Company is progressing its JAK1 inhibitor
GLPG0634, as well as one of the largest pipelines in biotech, with
four programs in development and over 30 discovery programs. The
Galapagos Group has over 800 employees and operates facilities in
five countries, with global headquarters in Mechelen, Belgium. More
info 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
