MECHELEN, BELGIUM--(Marketwire - September 07, 2010) - Galapagos NV (Euronext: GLPG) announced
today that its Board of Directors has appointed Mr. Howard Rowe
as an
Independent Director of the Company. Furthermore, Galapagos announced a
capital
increase arising from employee warrant exercises.
Howard Rowe (41) was previously a Managing Director with Goldman Sachs
where he
had multiple Healthcare responsibilities over his 12 years at the firm.
His
most recent roles at Goldman Sachs were as part of the European
Special
Situations and Principal Strategies teams where he established and
led the
private healthcare investing effort. During that time he served on the
boards
of EUSA Pharma, Healthcare Brands International, MedAvante,
SmallBone
Innovations and Ikonisys. Prior to his investing activities, Mr. Rowe
was a
senior member of the European Healthcare Investment Banking team,
where he
advised numerous corporate clients on M&A and corporate finance
activities.
Before joining Goldman Sachs, he was a corporate lawyer with the law
firm
Sullivan & Cromwell. Mr. Rowe received his Bachelor of Science in
Psychobiology
from the University of Southern California, and his JD from Harvard Law
School.
Mr. Rowe's appointment as a Board Member is for a period until the 2011
annual
shareholders' meeting. He is an Independent Director and also is appointed
as a
member of the Remuneration Committee. This appointment fills the
vacancy
created by Dr. Garth Rapeport's resignation from the Board in June 2010.
"We are pleased to welcome Howard Rowe to our Board of Directors," said
Onno van
de Stolpe, CEO of Galapagos. "Howard brings extensive experience in
strategic
growth in the healthcare industry, which will add value to Galapagos'
future as
a leading European biotech with a maturing clinical pipeline."
Share capital increase
Since its inception in 1999, Galapagos has used warrant plans to
incentivize
personnel and management and have them share in the success of the
company.
Following warrant exercises during the exercise period in August 2010,
Galapagos
issued 3,442 new ordinary shares on 7 September 2010 for a total
capital
increase, including issuance premium, of EUR29,913.90, or an average of
EUR8.69 per
new share. No member of the Board or Executive Committee exercised
warrants.
Following today's capital increase, Galapagos now has a share capital
amounting
to EUR129,252,393.80, with a total of 23,893,480 ordinary shares
outstanding.
There are no other voting securities.
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 clinical and over 50 small
molecule
discovery/pre-clinical programs. Through risk/reward-sharing alliances
with
GlaxoSmithKline, Lilly, Janssen Pharmaceutica, Merck & Co., Roche and
Servier,
Galapagos is eligible to receive up to EUR3.3 billion in downstream
milestones,
plus royalties. Together with its BioFocus and Argenta service
operations,
Galapagos has over 680 employees and operates facilities in six countries,
with
global headquarters in Mechelen, Belgium. More info at: www.glpg.com
This release may contain forward-looking statements, including,
without
limitation, statements containing the words "believes,"
"anticipates,"
"expects," "intends," "plans," "seeks," "estimates," "may," "will,"
"could,"
"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,
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.
[HUG#1443075]
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Source: Galapagos NV via Thomson Reuters ONE
