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Galapagos Genomics NV Announces The Separation Of Its Drug Discovery And Target Discovery Service -- Forms Galadeno As An Independent Business Unit


10/19/2005 5:11:36 PM

Galapagos Genomics NV, Europe's leading target discovery company, announced today that it has created a new business unit for its viral based discovery and validation service. This unit will operate under the name Galadeno from the Galapagos facility in Leiden. The drug discovery business will be conducted from the Mechelen facility and continue to trade under the name Galapagos. Commenting on this separation of the service unit, Onno van de Stolpe, CEO of Galapagos, said "Both Galadeno and our drug discovery programs have made great progress this year -- with Galadeno now a profitable unit and our drug discovery based on programs built around proprietary targets, this separation will allow each unit to grow in a dedicated way." Dr Andrea Grant, formerly Galapagos' Director of Business Development, has been appointed as Managing Director of Galadeno. "Our adenoviral reagent and functional screening business is recognised as the leading target discovery and validation service by the pharmaceutical industry," said Dr. Grant "As an independent unit, Galadeno will be better able to focus on expanding the business, supporting our customers, and maintaining our industry-leading position."

Read at Prime Zone


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