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Galapagos NV (GLPG.BR)' Affiliate BioFocus DPI Extends Collaboration with Chiesi Farmaceutici SpA


10/14/2010 9:25:58 AM

MECHELEN, BELGIUM and SAFFRON WALDEN, UK--(Marketwire - October 14, 2010) - Galapagos NV (Euronext: GLPG) announced today that its BioFocus service division has expanded a collaboration with Chiesi Farmaceutici, a privately held Italian pharmaceutical company. Total value for the collaboration with Chiesi has now reached EUR2.5 million.

BioFocus and Chiesi began their collaboration in December 2009 and recently extended it for one year. Under the terms of the extended collaboration agreement, BioFocus will provide medicinal chemistry and biology services, with an additional option for ADME services, for an undisclosed Chiesi therapeutic program.

"BioFocus has a high return business rate with clients, and we are pleased that Chiesi has chosen to extend this successful collaboration," said Onno van de Stolpe, CEO of Galapagos. "The quality of the science at BioFocus enables it to sustain its position as a premier provider in drug discovery services."

"The medicinal chemistry and biology work performed by BioFocus so far helped us to accelerate progress on our therapeutic programs. We look forward to working with BioFocus to move these programs forward toward the clinic," said Dr Paolo Chiesi, R&D Director and Vice-President of Chiesi Farmaceutici.

About Chiesi Farmaceutici

With over 3,500 employees around the world, the Chiesi Group produces and distributes successful drugs in 65 countries, and is present on 5 continents with 24 direct affiliates, 4 research centres, and 3 production sites. Respiratory pathologies, special care medicine, and cardiovascular disease are its traditional areas of expertise where it offers many therapeutic options recognized for their effectiveness. More info at: www.chiesigroup.com

About BioFocus

BioFocusaims to expand its partners' drug pipelines by accelerating the gene-to- drug candidate discovery process. This is achieved through a comprehensive discovery platform, which includes target discovery in human primary cells, focused as well as diverse compound libraries, in vitro and cell-based screening, structural biology, medicinal chemistry, ADME/PK services, supported by unique chemogenomic and informatics tools, and compound library acquisition, storage and distribution services. As a service division of Galapagos, BioFocus has over 250 employees in four countries worldwide. More info at: www.biofocus.com

About Galapagos

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 one of the largest pipelines in biotech, with six clinical and over 50 small molecule discovery/pre-clinical programs. Through risk/reward-sharing alliances with GlaxoSmithKline, Lilly, Janssen Pharmaceutica, Merck & Co., Roche and Servier, Galapagos is eligible to receive up to EUR3.3 billion in downstream milestones, plus royalties. Following the acquisition of the Zagreb research center, the Galapagos Group now has over 800 employees and operates facilities in seven countries, with global headquarters in Mechelen, Belgium. More info at: www.glpg.com

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.


[HUG#1451788]


This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Galapagos NV via Thomson Reuters ONE


CONTACTS

Galapagos NV
Onno van de Stolpe
CEO
Tel: +31 6 2909 8028
Email Contact

Elizabeth Goodwin
Director Investor Relations
Tel: +31 6 2291 6240
Email Contact



Read at BioSpace.com

   

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