MECHELEN, BELGIUM--(Marketwire - March 21, 2012) - Galapagos NV (EURONEXT BRUSSELS: GLPG)
that it has identified a pre-clinical compound in its alliance with
Pharmaceutica NV. This achievement triggered a milestone payment of
million to Galapagos.
Today's pre-clinical candidate was developed by Galapagos against a novel
discovered with Galapagos' proprietary platform. Galapagos will now
comprehensive safety evaluation to advance the compound towards Phase I
"Four years into the alliance, which started at the novel target stage,
excited to have delivered the first pre-clinical candidate," said Onno
Stolpe, CEO of Galapagos. "Our alliances with pharma provide
survive industry standard attrition and get a certain percentage of
through to the clinic. In this way, Galapagos continues to build a
track record by efficiently delivering high quality results, both
alliance and proprietary therapeutic pipelines."
In October 2007, Galapagos announced an alliance agreement with
Pharmaceutica providing Janssen Pharmaceutica with option rights to
worldwide, commercial licenses to certain Galapagos internal
Galapagos is eligible to receive up to EUR73 million in milestones per
plus royalties. To date, Galapagos has received EUR31 million in
payments from Janssen Pharmaceutica.
Galapagos (EURONEXT BRUSSELS: GLPG) (PINKSHEETS: GLPYY) is a mid-size
specialized in the discovery and development of small molecule and
therapies with novel modes-of-action. The Company is progressing
well as one of the largest pipelines in biotech, with four
development and over 50 discovery programs. The Galapagos Group has about
employees and operates facilities in six countries, with global
Mechelen, Belgium. More info at: www.glpg.com
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limitation, statements containing the words "believes,"
"expects," "intends," "plans," "seeks," "estimates," "may," "will,"
"stands to," and "continues," as well as similar expressions. Such
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Source: Galapagos NV via Thomson Reuters ONE