Abbott Park, Illinois and Mechelen, Belgium; 29 February 2012 – Abbott (NYSE: ABT) and
Galapagos (Euronext: GLPG) announced today that they have entered into a global
collaboration to develop and commercialize an oral, next-generation JAK1 inhibitor in Phase II
development with the potential to treat multiple autoimmune diseases.
GLPG0634 is a highly selective JAK1 inhibitor that Galapagos is developing for the treatment of
rheumatoid arthritis (RA) and other autoimmune diseases. The Janus kinases (JAK) are a
family of enzymes that play a key role in the signaling mechanism used by a number of
cytokines that are involved in autoimmune diseases. In previously reported results from a 4-
week Phase IIa study, GLPG0634 demonstrated efficacy measures among the best reported in
RA. All patients completed the study, and few experienced any side effects. No anemia,
change in blood pressure or lipids were observed. An additional Phase IIa dose-range finding
study with GLPG0634 is expected to begin shortly.
"The addition of this novel, oral compound offers patients the potential for advanced treatment
options and an improved patient experience to address RA and other autoimmune diseases,"
said John Leonard, M.D., senior vice president, global research and development, Abbott.
"Abbott's expertise in immunology, combined with a robust portfolio of investigational
treatments represents promising innovation across several areas of medical need."
“This collaboration with Abbott, the global leader in autoimmune diseases, is a great recognition
of the value of GLPG0634. We view Abbott to be the best partner possible to deliver a
complete clinical program and a powerful market introduction. We are excited to continue the
phase II trials and expect to deliver to Abbott a complete Phase II package in 2014,” said Onno
van de Stolpe, chief executive officer, Galapagos. “With GLPG0634 we have proven that we
can deliver from target to clinical Proof of Concept, and we aim to do the same on many novel
target programs in our pipeline. This collaboration is transformational for Galapagos, providing
the means to progress these innovative products into the clinic.”
Under the terms of the agreement, Abbott will make an initial upfront payment of $150 million
for rights related to the global collaboration. Upon successful completion of the RA Phase II
studies, Abbott will license the program for a one-time fee of $200 million if the studies meet
certain pre-agreed criteria. Abbott will assume sole responsibility for Phase III clinical
development and global manufacturing. Pending achievement of certain developmental,
regulatory, commercial and sales-based milestones, Galapagos would be eligible to receive
additional milestone payments from Abbott, potentially amounting to $1.0 billion, in addition to
tiered double-digit royalties on net sales upon commercialization. Galapagos retains co-
promotion rights in Belgium, the Netherlands and Luxembourg.
Galapagos will hold an audio webcast presentation for journalists, analysts, and investors today
at 4 pm CET/10 am Eastern US/7 am Pacific US, viewable at www.glpg.com.
Belgium 0800 50747
Netherlands 0800 265 8528
Other countries +32 2290 1608 or +31 20 794 8504
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.
Galapagos (Euronext: GLPG; OTC: GLPYY) is a mid-size biotechnology company specialized in
the discovery and development of small molecule and antibody therapies with novel modes-of-
action. The Company is progressing GLPG0634 through Phase II and has one of the largest
pipelines in biotech, with four programs in development and over 50 discovery programs. The
Galapagos Group has about 800 employees and operates facilities in six countries, with global
headquarters in Mechelen, Belgium. More info at: www.glpg.com
Abbott Forward-Looking Statements
Some statements in this news release may be forward-looking statements for purposes of the
Private Securities Litigation Reform Act of 1995. Abbott cautions that these forward-looking
statements are subject to risks and uncertainties that may cause actual results to differ
materially from those indicated in the forward-looking statements. Economic, competitive,
governmental, technological and other factors that may affect Abbott's operations are discussed
in Item 1A, "Risk Factors," to our Annual Report on Securities and Exchange Commission Form
10-K for the year ended Dec. 31, 2011, and are incorporated by reference. Abbott undertakes
no obligation to release publicly any revisions to forward-looking statements as a result of
subsequent events or developments.
Abbott (NYSE: ABT) is a global, broad-based health care company devoted to the discovery,
development, manufacture and marketing of pharmaceuticals and medical products, including
nutritionals, devices and diagnostics. The company employs approximately 91,000 people and
markets its products in more than 130 countries.
Media: Adelle Infante, +1-847-224-0359
Investors: Larry Peepo, +1-847-935-6722
Onno van de Stolpe, CEO
Tel: +31 6 2909 8028
Elizabeth Goodwin, Director Investor Relations
Tel: +31 6 2291 6240