MECHELEN, BELGIUM and CANTERBURY, UNITED KINGDOM--(Marketwire - January 15, 2013) - Galapagos
NV (Euronext: GLPG) and Cangenix Ltd announced today that Galapagos has
acquired Cangenix to add structure-based drug discovery to the Argenta
service offering. Cangenix's state-of-the-art technology will augment
Argenta's ability to design new drugs and fill a growing client need.
Under the terms of the acquisition agreement, Galapagos will pay a total
consideration of £1 million, with a further £440,000 potential
earn out payment contingent upon achievement of certain conditions.
Argenta will integrate all
of Cangenix's assets, know-how, personnel and service contracts. The
will be added to Argenta's capabilities in hit finding and medicinal
The Cangenix team of 4 staff will join Argenta but will continue to
platform in its premises in Canterbury, securing a smooth transition
business. The acquisition will contribute to the Argenta revenues and
"We welcome the Cangenix team and their clients to the Galapagos group,"
Onno van de Stolpe, CEO of Galapagos. "The assets and expertise of
really address a growing client need at Argenta. We look forward to
and expanding this business."
"I am confident that Cangenix's expertise in structure-based drug
services will enable Argenta to design better drugs for clients," added
David Brown, CEO, Cangenix Ltd.
About structure-based drug discovery
Structure-based drug discovery has been utilized within the
industry for over twenty-five years. It plays an important role in
discovery, design and lead optimization. More recently its role in
has been highlighted with the advent of fragment based drug discovery
potential to deliver more efficient hits and lead series. The
provides knowledge of the three-dimensional structure of drug targets.
structure of the target is known, potential drugs are designed to
the drug target, optimizing the interactions and facilitating the
high-quality drug candidates.
Galapagos (Euronext: GLPG; OTC: GLPYY) is a mid-size clinical
biotechnology company specialized in the discovery and development of
molecule and antibody therapies with a novel mode-of-action. The
progressing four clinical, six pre-clinical, and 30 discovery programs in
fibrosis, inflammation, antibiotics, metabolic disease, and other
Its lead program is GLPG0634, an orally-available, selective inhibitor of
for the treatment of rheumatoid arthritis and potentially other
diseases. In two four-week Phase 2 studies, GLPG0634 showed improvement
signs and symptoms of rheumatoid arthritis and a unique safety profile.
month Phase 2b study is expected to start Q2 2013 with top line data
Q4 2014. AbbVie and Galapagos signed a worldwide license agreement
AbbVie will be responsible for further development and commercialization
Phase 2b. Galapagos is also progressing two other clinical development
with clinical readouts expected in 2013: GLPG0187, a novel integrin
antagonist in development for metastasis, is in a Phase 1b patient
GLPG0974 is the first inhibitor of GPR43 to be evaluated clinically
treatment of IBD. This program is in a second Phase 1 study and will
Proof of Concept Phase 2 study in Q2 2013.
The Galapagos Group, including fee-for-service companies BioFocus,
Fidelta, has over 800 employees and operates facilities in five countries,
global headquarters in Mechelen, Belgium. Further information about the
and its drug development programs can be found online at: www.glpg.com
Argenta is a fully-integrated drug discovery services provider and a
partner for many world-leading pharmaceutical and biotechnology
Argenta combines a comprehensive range of discovery services with
disease area expertise including respiratory, oncology, pain and
disease, providing a compelling combination of scientific excellence, a
vitro and in vivo pharmacology and DMPK capability, cutting edge
chemistry thinking and cost-effectiveness. Argenta employs over 145
in the UK with an average of 17 years' pharmaceutical drug discovery
More information at: www.argentadiscovery.com
Cangenix is a profitable gene-to-structure biotech company that provides
discovery services to a rapidly growing client list. It was formed in
scientists from the Structural Biology and Biophysics group at Pfizer
UK. Cangenix is a located in Canterbury, Kent. Recognized as experts
field, the Cangenix team brings over 70 years of combined experience
application of protein crystallography and biophysical techniques to
discovery. Cangenix provides a range of crystallographic and
techniques, such as surface plasmon resonance (SPR) and isothermal
calorimetry (ITC), using tailored biological reagents to accelerate
understanding of compound-target interactions and utilize structural,
and thermodynamic data to inform drug design. More
Galapagos forward-looking statements
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limitation, statements containing the words "believes," "anticipates,"
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looking statements may involve known and unknown risks, uncertainties and
factors which might cause the actual results, financial condition,
or achievements of Galapagos, or industry results, to be materially
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
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of the date of publication of this document. Galapagos expressly disclaims
obligation to update any such forward-looking statements in this document
reflect any change in its expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is based,
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Source: Galapagos NV via Thomson Reuters ONE