Mechelen, Belgium;
19 January 2009 – Galapagos NV (Euronext: GLPG) announced
today that it has expanded the alliance in antibacterials
and antivirals with GlaxoSmithKline (GSK) to include three
more discovery targets. For this expansion, Galapagos receives
a payment from GSK of €2 million cash.
In December 2007, GSK and
Galapagos initiated a program to discover and develop novel
anti-infective drug candidates for GSK’s Infectious
Diseases Centre of Excellence in Drug Discovery (ID CEDD).
Galapagos is responsible for the discovery and development
of natural product drug candidates through to clinical Proof
of Concept, at which point GSK will have exclusive option
to license each compound for further development and commercialization
on a worldwide basis. Today’s agreement further broadens
the scope of the alliance between the two companies through
the nomination of three additional GSK targets.
Under the terms of the alliance,
Galapagos could be eligible to receive up to €95 million
in upfront fees, development and regulatory milestones payments
for each product candidate. If a product is commercialized,
Galapagos may receive up to €120 million for achievement
of specific sales milestones. Galapagos is also eligible
to receive up to double-digit royalties on worldwide sales
of alliance products.
“Following on the
success and expansion of our osteoarthritis alliance, we
are pleased that GSK has also expanded the anti-infectives
alliance to include three additional targets,” said
Onno van de Stolpe, Chief Executive Officer of Galapagos.
“Together with the current programs advancing toward
the clinic, we aim to progress these new anti-infective
targets to deliver Phase IIa clinical candidates to GSK.”
About infectious
diseases
Infectious diseases are caused by pathogenic micro-organisms
such as bacteria, viruses, parasites or fungi. The diseases
can be spread, directly or indirectly, from one person to
another 1. Infectious diseases are
a leading cause of death worldwide. Existing therapies against
infectious diseases currently account for an estimated €45
billion in annual global sales 2.
The need for new therapies is on the rise due to increasing
resistance of micro-organisms to available therapies.
About Galapagos
Galapagos (Euronext: GLPG; OTC: GLPYY) is a drug discovery
company with pre-clinical programs in bone and joint diseases
and bone metastasis. Its division BioFocus DPI offers a
full suite of target-to-drug discovery products and services
to pharmaceutical and biotech companies, encompassing target
discovery and validation, screening and drug discovery through
to delivery of pre-clinical candidates. BioFocus DPI also
provides adenoviral reagents for rapid identification and
validation of novel drug targets, compound libraries for
drug screening as well as ADMET products to select compounds.
Galapagos currently employs 460 people and operates facilities
in six countries, with global headquarters in Mechelen,
Belgium. More information about Galapagos can be found at
www.glpg.com.
CONTACT
Galapagos NV
Onno van de Stolpe, CEO
Tel: +31 6 2909 8028
ir@glpg.com
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.
1
http://www.who.int/topics/infectious_diseases/en/
2 Source: GlaxoSmithKline Annual Report 2006