MECHELEN, BELGIUM--(Marketwire - June 29, 2011) -
Mechelen, Belgium; 28 June 2011 - Galapagos NV (Euronext: GLPG) announced
today
that service division Argenta has signed a subcontracting agreement
with
Pulmagen Therapeutics Limited to perform integrated services on two
respiratory
projects.
Under the terms of the agreement, Argenta will be eligible to receive up
to £6
million (EUR7 million) in fee-for-service payments over two years,
with the
possibility to extend. Building on its excellent reputation in
respiratory
diseases, Argenta will perform chemistry, biology, ADMET/PK and
pharmacology
services to bring two respiratory projects to pre-clinical status.
"We are pleased that Pulmagen has come to Argenta for two projects of
such
substantial scope. These projects will make a strong contribution
to the
service operations' performance in 2011," said Dr Chris Newton, SVP
Services of
Galapagos. "Today's agreement also demonstrates how well positioned
Argenta is
to perform longer term, integrated projects for its clients."
The deal with Argenta is part of a discovery and development collaboration
that
Pulmagen has established with Chiesi Farmaceutici S.p.A., a private
Italian
Group, with focus in respiratory diseases. The purpose of the
discovery
programs is to identify new compounds with anti-inflammatory potential
to be
developed for respiratory conditions characterized by a high unmet medical
need
such as COPD and cystic fibrosis. The terms of the collaboration
between
Pulmagen and Chiesi are not disclosed.
About Argenta
Argenta's contract research, which includes expertise in medicinal
chemistry,
computer-aided drug discovery,in vitro biology, analytics, in
vivo
pharmacokinetics, pharmacology and world-leading respiratory models,
has a
strong reputation for scientific excellence. Argenta is a service
division of
Galapagos NV (Euronext: GLPG) and employs over 140 people in the UK
with its
main operations in Harlow. More info at: www.argentadiscovery.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 programs in development and over 50
discovery programs. Through risk/reward-sharing alliances with
GlaxoSmithKline,
Lilly, Janssen Pharmaceutica, Roche and Servier, Galapagos is eligible to
receive up to EUR2.5 billion in downstream milestones, plus royalties. 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
About Pulmagen
Pulmagen Therapeutics is a privately held Respiratory drug development
company
headquartered in Fulmer, UK. The company has developed a portfolio of
clinical
programmes targeting asthma and Chronic Obstructive Pulmonary Disease
(COPD).
Pulmagen was founded in 2010 following the sale of Argenta Discovery
Limited,
its drug discovery division, to Galapagos.
CONTACT
Galapagos NV
Dr Chris Newton, SVP Services
Tel: +44 1799 533 535
Elizabeth Goodwin, Director Investor Relations
Tel: +31 6 2291 6240
ir@glpg.com
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Source: Galapagos NV via Thomson Reuters ONE
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