MECHELEN, BELGIUM--(Marketwired - Jul 23, 2013) - Galapagos NV (Euronext: GLPG) announced today the achievement of a late stage discovery milestone for small molecules against a novel target in the osteoarthritis (OA) alliance with Servier. This milestone triggered a payment to Galapagos of EUR3 million and will contribute to Group revenues in the first half of 2013.
"Galapagos already delivered multiple compounds against different OA targets into late discovery and selected a preclinical candidate last year. Today's achievement is consistent with our strategy to move multiple, novel mechanism-of-action programs toward the clinic, thereby increasing the chances of success in disease areas with high unmet medical needs," said Onno van de Stolpe, CEO of Galapagos.
"Galapagos is delivering what we aimed for in our alliance to discover new oral therapies in osteoarthritis. Servier is committed to developing medicines which actually address the causes of osteoarthritis, a debilitating illness for which no disease-modifying treatment is available," said Dr Patricia Belissa-Mathiot, Director of Rheumatology Innovative Pole.
In July 2010, Servier and Galapagos announced their alliance to develop new oral medicines for the treatment of osteoarthritis (OA). Galapagos is responsible for the discovery and development of new candidate drugs against novel targets, and Servier has an exclusive option to license these after the completion of Phase 1 clinical trials. Galapagos is eligible to receive up to EUR290 million in success-based milestones, plus royalties on commercial sales. Galapagos also retains exclusive US commercialization rights to all commercial compounds.
About Servier
Servier is a privately-run research based pharmaceutical company with a 2012 turnover of EUR3.9 billion. Servier reinvests 25% of its turnover in Research & Development in cardiovascular, metabolic, neurological, psychiatric and bone and joint diseases as well as oncology. Servier is established in 140 countries worldwide with over 20,000 employees. More info at: www.servier.com
About Galapagos
Galapagos (Euronext: GLPG; OTC: GLPYY) is specialized in novel modes-of-action, with a large pipeline of five clinical, six pre-clinical, and 30 discovery small-molecule and antibody programs in cystic fibrosis, inflammation, antibiotics, metabolic disease, and other indications. GLPG0634 is an orally-available, selective inhibitor of JAK1 for the treatment of rheumatoid arthritis and potentially other inflammatory diseases, currently in Phase 2B studies in RA and about to enter Phase 2 studies in Crohn's disease. AbbVie and Galapagos signed a worldwide license agreement whereby AbbVie will be responsible for further development and commercialization after Phase 2B. Galapagos has another selective JAK1 inhibitor in Phase 2 in lupus and psoriasis, GSK2586184 (formerly GLPG0778, in-licensed by GlaxoSmithKline in 2012). GLPG0187 is a novel integrin receptor antagonist currently in a Phase 1B patient study in metastasis. GLPG0974 is the first inhibitor of FFA2 to be evaluated clinically for the treatment of IBD; this program is currently in a Proof of Concept Phase 2 study. GLPG1205 is a first-in-class molecule that targets inflammatory disorders and is currently in a First-in-Human Phase 1 study.
The Galapagos Group, including fee-for-service companies BioFocus, Argenta and Fidelta, has 800 employees and operates facilities in five countries, with global headquarters in Mechelen, Belgium. Further information at: www.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.
Galapagos delivers novel osteoarthritis molecules in alliance: http://hugin.info/133350/R/1717970/571388.pdf
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Source: Galapagos NV via Thomson Reuters ONE
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CONTACTS Servier Servier Communication Department Tel: +33 1 55 72 60 37 Email Contact Galapagos NV Onno van de Stolpe Chief Executive Officer Tel: +31 6 2909 8028 Email Contact
