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Galapagos NV (GLPG.BR) Receives EUR2.7 Million Grant for Antiviral Drug Discovery


2/7/2011 8:19:55 AM

MECHELEN, BELGIUM--(Marketwire - February 07, 2011) -



Galapagos NV (Euronext: GLPG) announced today that it has been awarded a EUR2.7 million grant from the Flemish agency for Innovation by Science and Technology (IWT) to progress its proprietary antiviral drug discovery research programs.

The two-year IWT-funded project focuses on progressing novel mode-of-action small molecules that have shown antiviral activity in laboratory models, with the goal to deliver a first preclinical candidate within one year. Galapagos will collaborate on this project with the research group of Professor Johan Neyts at the Rega Institute for Medical Research at the KU Leuven, which has a long-standing expertise in developing novel strategies to treat viral infections.

These antiviral programs focus on blocking the activity of a protein in the human body that is essential for a number of important pathogenic viruses to carry out their own reproduction. The compounds have demonstrated potent antiviral activity against a wide variety of normal and resistant strains. The key priorities for this project are to advance compounds against human rhinovirus (HRV), the virus that causes the common cold, and hepatitis C virus (HCV).

"Galapagos is once again breaking new ground with these novel antiviral compounds that target host proteins," said Graham Dixon, SVP Drug Discovery for Galapagos. "This grant provides funding for us to further understand the mechanism by which these orally available, small molecules play a role in inhibiting viral infection."


About Galapagos antiviral drug discovery

In addition to its anti-infectives alliance with GlaxoSmithKline, Galapagos is progressing two proprietary antiviral programs. These small molecule programs focus on host (human) targets and thereby show activity across a broad range of viruses in laboratory studies. Galapagos' lead antiviral program is currently in lead optimization, with plans to deliver a preclinical candidate by the end of 2011.

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 seven clinical and over 50 small molecule discovery/pre-clinical 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 over 800 employees and operates facilities in seven countries, with global headquarters in Mechelen, Belgium. More info at: www.glpg.com


Cautionary note regarding forward-looking statements

This release may contain forward-looking statements, including, without limitation, statements containing the words "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "will," "could," 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.







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

[HUG#1485771]


CONTACTS

Galapagos NV
Graham Dixon
SVP Drug Discovery
Tel: +32 473 86 87 51

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



Read at BioSpace.com

   

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