Galapagos delivers candidate drug in its alliance with Janssen Pharmaceutica NV and receives â‚¬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. Â This achievement triggered a milestone payment of â‚¬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. Â 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.Â "Galapagos
is progressing multiple programs successfully across different alliances and
delivering promising candidate drugs."
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.Â 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.Â In two four-week Phase 2 studies, GLPG0634 showed improvement in the
signs and symptoms of rheumatoid arthritis and a unique safety profile.Â A 6
month Phase 2b study is expected to start Q2 2013 with top line data expected in
Q4 2014.Â AbbVie and Galapagos signed a worldwide license agreement whereby
AbbVie will be responsible for further development and commercialization after
Phase 2b.Â 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.Â 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.Â Further information about the company
and its drug development programs can be found online at: www.glpg.com
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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limitation, statements containing the words "believes," "anticipates,"
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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.
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Source: Galapagos NV via Thomson Reuters ONE