From the Wires
Galapagos delivers candidate drug in GSK alliance and receives milestone payment
By: Marketwired .
Jan. 9, 2013 01:39 AM
MECHELEN, BELGIUM -- (Marketwire) -- 01/09/13 -- Galapagos NV (Euronext: GLPG) announced today that it successfully delivered a fifth pre-clinical candidate drug in its alliance with GlaxoSmithKline (GSK) triggering a milestone payment to Galapagos.
In 2006 Galapagos and GSK initiated a drug discovery and development alliance to deliver disease modifying drugs for GSK's global R&D organization. In this alliance Galapagos delivered a fifth candidate drug.
"Since the start of the alliance in 2006, Galapagos has identified five candidate drugs of which two have been in-licensed by GSK to date," said Onno van de Stolpe, CEO of Galapagos. "We hope that more programs from this alliance may enter the clinic."
About Galapagos' immuno-inflammation alliance with GlaxoSmithKline
Galapagos and GSK initiated an alliance to discover and develop disease-modifying drugs for GSK's global R&D organization in June 2006. Subject to achievement of certain milestone events Galapagos has the potential to receive more than EUR200 million in total milestone payments, plus up to double-digit royalties from GSK. GSK has an exclusive option to further develop and commercialize compounds from the alliance on a worldwide basis.
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 novel modes-of-action. The Company is progressing its JAK1 inhibitor GLPG0634, as well as one of the largest pipelines in biotech, with four programs in development and over 30 discovery programs. The Galapagos Group has over 800 employees and operates facilities in five countries, with global headquarters in Mechelen, Belgium. More info 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.
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Source: Galapagos NV via Thomson Reuters ONE
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