Mechelen, Belgium;
6 July 2006 - Galapagos NV (Euronext & LSE: GLPG), an
integrated drug discovery company, announced today closure
on the acquisition of all the drug discovery operations
of Discovery Partners International (DPI) for €4.25
million in cash. With this, the acquired assets of DPI have
now become an integral part of Galapagos’ service
division BioFocus DPI.
Galapagos acquired the operational
activities of DPI as part of its strategy to become a worldwide
leader in drug discovery services, ranging from target discovery
to the delivery of candidate drugs. The acquired operations
include DPI’s drug discovery services sites San Diego
and South San Francisco (USA), Basel (Switzerland) and Heidelberg
(Germany) as well as DPI's Japanese sales office in Tokyo.
These operations strengthen and broaden the BioFocus product
offering and global presence, propelling the new BioFocus
DPI group to a Top 5 position worldwide in the drug discovery
market. The acquisition also provides Galapagos with additional
capacity to deliver on its broad drug discovery and development
alliance in osteoarthritis with GlaxoSmithKline, announced
in June 2006. Based on this acquisition, Galapagos has increased
its revenue guidance for 2006 from €25-30 million to
€33-38 million.
About Galapagos
Galapagos is a publicly traded, genomics-based drug discovery
company (Euronext Brussels, GLPG; Euronext Amsterdam, GLPGA,
London AiM: GLPG) that has drug discovery programs based
on proprietary, novel targets in bone and joint diseases
- osteoarthritis, osteoporosis and rheumatoid arthritis.
Galapagos offers a full suite of target-to-drug discovery
products and services to pharmaceutical and biotech companies
through its division BioFocus DPI, encompassing target discovery
and drug discovery services through to delivery of pre-clinical
candidates. In addition, BioFocus DPI provides adenoviral
reagents for rapid identification and validation of novel
drug targets and compound libraries for drug screening.
Galapagos currently employs more than 320 people, including
144 PhDs, and operates facilities in seven countries, with
global headquarters in Mechelen, Belgium. More information
about Galapagos and BioFocus DPI can be found at www.glpg.com.
CONTACT:
Galapagos NV
Onno van de Stolpe, CEO
Tel: +31 6 290 980 28
ir@glpg.com
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