Galapagos Enters Into Oncology Target Discovery Collaboration with Janssen Pharmaceutica
MECHELEN, Belgium; 3 January 2008 - Galapagos NV (Euronext &
LSE: GLPG) announced today a new two-year target discovery
collaboration between Janssen Pharmaceutica and BioFocus DPI,
Galapagos' service division, in the field of oncology.
BioFocus DPI will apply Galapagos' proprietary adenoviral platform
to identify novel drug targets for the development of cancer
The goal of the new collaboration will be to discover and validate novel targets in the field of oncology. BioFocus DPI will perform assay development, screening of the SilenceSelect® and FLeXSelect® adenoviral libraries, and target validation. Target discovery in cutting edge in vitro assays may provide novel drug targets for cancer areas with an unmet medical need. BioFocus DPI receives an upfront payment of €2.9 million. In total, BioFocus DPI may receive additional research, acceptance, license and development fees of up to €7.6 million should certain predetermined criteria be achieved.
"This marks BioFocus DPI's first target discovery agreement in oncology, as well as the largest target discovery agreement to date for the service division," said Onno van de Stolpe, Chief Executive Officer of Galapagos.
About BioFocus DPI
BioFocus DPI is the service division of Galapagos. It 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. More information about BioFocus DPI can be found at www.biofocusdpi.com.
Galapagos (Euronext Brussels, GLPG; Euronext Amsterdam, GLPGA; London AiM: GLPG) is a drug discovery company with pre-clinical programs in bone and joint diseases and cachexia. Galapagos currently employs 460 people and operates facilities in seven countries, with global headquarters in Mechelen, Belgium. More information about Galapagos can be found at www.glpg.com.
Onno van de Stolpe, CEO
Tel: +31 6 2909 8028
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 2008