Galapagos achieves milestone payment in rheumatoid arthritis alliance

Galapagos achieves milestone payment in rheumatoid arthritis alliance

MECHELEN, BELGIUM -- 05/28/09 --

Galapagos NV (Euronext: GLPG) announced today achievement of a milestone under its alliance agreement in rheumatoid arthritis with Janssen Pharmaceutica NV ('Janssen'). The milestone triggered a cash payment of EUR 3.4 million to Galapagos.

In October 2007, Galapagos announced an alliance agreement with 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 milestone announced today is the result of one of these programs reaching the next phase of medicinal chemistry optimization.


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 GSK, Janssen Pharmaceutica, Eli Lilly and Merck. Through an alliance with MorphoSys, Galapagos is also developing new antibody therapies in bone and joint diseases. Its division BioFocus DPI 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 490 people and operates facilities in six countries, with global headquarters in Mechelen, Belgium. More info at: www.glpg.com.

 

CONTACT

Galapagos NV
Graham Dixon, PhD
Senior Vice President Drug Discovery
+32 473 86 87 51
[email protected]

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.


This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.



Copyright © Hugin AS 2009. All rights reserved.

Suggested Articles

No biohazardous substances were in the room where the explosion happened, according to the Russian virology center.

Merck has a shot at becoming the first company to receive clearance to sell a vaccine against the virus in the U.S.

Acceleron has chalked up another phase 2 flop as its pipeline thins a little more.