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.Â 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. Â "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.Â Subject to
achievement of certain milestone events Galapagos has the potential to receive
more than â‚¬200 million in total milestone payments, plus up to double-digit
royalties from GSK.Â GSK has an exclusive option to further develop and
commercialize compounds from the alliance on a worldwide basis.
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.Â 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.Â More info at:
Onno van de Stolpe, CEO
Tel: +31 6 2909 8028
Elizabeth Goodwin, Director Investor Relations
Tel: +31 6 2291 6240
Galapagos forward-looking statements
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Source: Galapagos NV via Thomson Reuters ONE