MECHELEN, BELGIUM--(Marketwire - January 09, 2013) - Galapagos NV (Euronext: GLPG) announced
today that it successfully delivered a fifth pre-clinical candidate drug
alliance with GlaxoSmithKline (GSK) triggering a milestone payment to
In 2006 Galapagos and GSK initiated a drug discovery and development
deliver disease modifying drugs for GSK's global R&D organization. In
alliance Galapagos delivered a fifth candidate drug.
"Since the start of the alliance in 2006, Galapagos has identified
candidate drugs of which two have been in-licensed by GSK to date," said
van de Stolpe, CEO of Galapagos. "We hope that more programs from this
may enter the clinic."
About Galapagos' immuno-inflammation alliance with GlaxoSmithKline
Galapagos and GSK initiated an alliance to discover and develop
disease-modifying drugs for GSK's global R&D organization in June
2006. Subject to
achievement of certain milestone events Galapagos has the potential to
more than EUR200 million in total milestone payments, plus up to
royalties from GSK. GSK has an exclusive option to further
commercialize compounds from the alliance on a worldwide basis.
Galapagos (Euronext: GLPG; OTC: GLPYY) is a mid-size clinical stage
biotechnology company specialized in the discovery and development of small
molecule and antibody therapies with novel modes-of-action. The Company is
progressing its JAK1 inhibitor GLPG0634, as well as one of the largest
in biotech, with four programs in development and over 30 discovery
The Galapagos Group has over 800 employees and operates facilities in five
countries, with global headquarters in Mechelen, Belgium. More info at:
Galapagos 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,"
"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, performance or
achievements expressed or implied by such forward-looking statements. Given
these uncertainties, the reader is advised not to place any undue reliance
such forward-looking statements. These forward-looking statements speak
of the date of publication of this document. Galapagos expressly disclaims
obligation to update any such forward-looking statements in this document
reflect any change in its expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is based,
required by law or regulation.
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Source: Galapagos NV via Thomson Reuters ONE