Galapagos NV Achieves EUR 3.4 MIllion Milestone Payment from Janssen Pharmaceutica
Mechelen, Belgium; 25 January 2008 - Galapagos NV (Euronext & LSE: 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.
On 24 October 2007, Galapagos announced an alliance agreement with Janssen providing it with option rights to acquire worldwide, commercial licenses to novel small-molecules from up to 12 of Galapagos' internal programs involving rheumatoid arthritis (RA) therapeutic targets. The milestone announced today was due to the achievement of a milestone with respect to the GT146 program.
Galapagos (Euronext Brussels, GLPG; Euronext Amsterdam, GLPGA; London AiM: GLPG) is a drug discovery company with pre-clinical programs in bone and joint diseases and cachexia. 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 chemogenomics and ADMET database products to select targets and compounds. Galapagos currently employs 460 people 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 and www.biofocusdpi.com.
CONTACT Galapagos NV Onno van de Stolpe, CEO Tel: +31 6 2909 8028 [email protected]
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