MECHELEN, BELGIUM--(Marketwire - March 06, 2013) - Galapagos NV (EURONEXT BRUSSELS: GLPG)
the achievement of milestones in the alliances with Servier in
and oncology. These milestones triggered payments to Galapagos totaling
million, contributing to 2012 Group revenues.
The osteoarthritis (OA) alliance with Servier was initiated in July
deliver new oral medicines. In October 2011 Galapagos announced a
alliance with Servier for innovative treatments in oncology. In both
Galapagos is responsible for the discovery and development of new
drugs against novel targets. Galapagos is eligible to receive in excess of
million in success-based milestones, plus royalties on commercial sales.
company also retains exclusive US commercialization rights to all
"We are very proud to announce the delivery of high quality compounds
our novel targets in both osteoarthritis and oncology," said Onno van de
CEO of Galapagos. "Our alliances are proving to be very productive,
total of eight pre-clinical candidates, 10 clinical programs, and
in-licensed programs delivered to alliance partners."
"We are very pleased with the progress of our alliances with Galapagos,"
Bernard Marchand, Head of Discovery Research at Servier. "We are confident
they will continue to deliver results."
About Galapagos' osteoarthritis alliance with Servier
Servier and Galapagos entered into an alliance in July 2010 to develop new
medicines for the treatment of osteoarthritis (OA). Galapagos is
for the discovery and development of new candidate drugs, and Servier
exclusive option to license these after the completion of Phase I
trials. For any marketed products, Servier will have the rights to
registration and commercialization, but Galapagos retains exclusive
commercialization rights. Galapagos is also eligible to receive
development, regulatory and other milestone payments that could reach
million, plus royalties upon commercialization of products outside the
covered under the agreement.
About Galapagos' oncology alliance with Servier
In October 2011 Servier and Galapagos announced an alliance agreement
on a combination of novel Galapagos and Servier targets in oncology.
will be responsible for the discovery and development of new candidate
against these targets. Servier will have an exclusive option to license
program after the completion of pre-clinical development by Galapagos.
will be responsible for further clinical development, registration
commercialization. Galapagos retains exclusive rights for clinical
registration and commercialization in the United States. Galapagos is
to receive discovery, development, regulatory and other milestone payments
could reach EUR260 million, plus royalties upon commercialization of
Servier is a privately-run research based pharmaceutical company with a
turnover of EUR3.9 billion. Servier reinvests 25% of its turnover in
Development in cardiovascular, metabolic, neurological, psychiatric and
joint diseases as well as oncology. Servier is established in 140
worldwide with over 20,000 employees. More info at: www.servier.com
Galapagos (EURONEXT BRUSSELS: GLPG) (PINKSHEETS: GLPYY) is specialized in
with a large pipeline of four clinical, six pre-clinical, and 30
small-molecule and antibody programs in cystic fibrosis,
antibiotics, metabolic disease, and other indications.
GLPG0634 is an orally-available, selective inhibitor of JAK1 for the
of rheumatoid arthritis and potentially other inflammatory diseases,
enter Phase 2b studies. AbbVie and Galapagos signed a worldwide
agreement whereby AbbVie will be responsible for further
commercialization after Phase 2b. Galapagos has another selective
inhibitor in Phase 2 in lupus and psoriasis, GSK2586184 (formerly
in-licensed by GlaxoSmithKline in 2012). GLPG0187 is a novel integrin
antagonist currently in a Phase 1b patient study in metastasis. GLPG0974
first inhibitor of GPR43 to be evaluated clinically for the treatment of
this program will start a 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 at:
Galapagos forward-looking statements
This release may contain forward-looking statements, including,
limitation, statements containing the words "believes,"
"expects," "intends," "plans," "seeks," "estimates," "may," "will,"
"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,
or achievements of Galapagos, or industry results, to be materially
from any historic or future results, financial conditions,
achievements expressed or implied by such forward-looking statements.
these uncertainties, the reader is advised not to place any undue
such forward-looking statements. These forward-looking statements speak
of the date of publication of this document. Galapagos expressly
obligation to update any such forward-looking statements in this
reflect any change in its expectations with regard thereto or any
events, conditions or circumstances on which any such statement is based,
required by law or regulation.
Galapagos receives EUR7.5 million in Servier alliances:
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Source: Galapagos NV via Thomson Reuters ONE