Galapagos
achieves multiple milestones in rheumatoid arthritis alliance
Mechelen, Belgium;
3 December 2009 - Galapagos NV (Euronext: GLPG) announced
today achievement of multiple milestones under its alliance
agreement in rheumatoid arthritis. The milestones trigger
a cash payment of €10.2 million to Galapagos.
In October 2007, Galapagos
announced an alliance agreement with Janssen Pharmaceutica
NV (Janssen) providing Janssen with option rights to acquire
worldwide, commercial licenses to novel small molecules
from up to 12 of Galapagos' internal programs involving
rheumatoid arthritis therapeutic targets. The milestones
announced today are the result of several of these programs
reaching the next phase of medicinal chemistry optimization.
"We are pleased that
the molecules derived under the rheumatoid arthritis alliance
have met the agreed upon criteria," said Onno van de
Stolpe, CEO of Galapagos. "Galapagos continues to deliver
high quality research and remains on course for achieving
its goals for the year."
About Galapagos
Galapagos (Euronext: GLPG; OTC: GLPYY) is a drug discovery
and development company with small molecule programs in
bone and joint diseases, bone metastasis, cachexia, anti-infectives
and metabolic diseases. It has established risk sharing
alliances with GlaxoSmithKline, Lilly and Merck and Co.
Through an alliance with MorphoSys, Galapagos is also developing
new antibody therapies in bone and joint diseases. Its division
BioFocus offers a full suite of target-to-drug discovery
products and services to pharmaceutical and biotech companies
and to patient foundations, encompassing target discovery
and validation, screening and drug discovery through to
delivery of pre-clinical candidates. Galapagos currently
employs 495 people and operates facilities in six countries,
with global headquarters in Mechelen, Belgium. More info
at: www.glpg.com.
CONTACT
Galapagos NV
Onno van de Stolpe, CEO
Tel: +31 6 2909 8028
ir@glpg.com
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