Galapagos NV Announces Second Extension to Services Collaboration with Chiesi Farmaceutici SpA
Published: Oct 12, 2011
MECHELEN, BELGIUM and SAFFRON WALDEN, UK--(Marketwire - October 12, 2011) - Galapagos NV (Euronext: GLPG) announced today that its BioFocus service division has extended its collaboration with Chiesi Farmaceutici, a privately owned Italian pharmaceutical company, for a second time. This extension of the collaboration with Chiesi is valued at EUR2.8 million.
BioFocus and Chiesi began their collaboration in December 2009 and have now extended the agreement for a second time, until the end of 2012. Under the terms of the integrated collaboration agreement, BioFocus will provide expanded medicinal chemistry resource, biology services, and an option to perform ADME services, for an undisclosed Chiesi therapeutic program.
"BioFocus' offering complements mid-size pharmaceutical companies like Chiesi by providing specialized technologies, such as high-throughput screening capabilities, and disease-specific expertise," said Dr Chris Newton, SVP Services for Galapagos. "Our ability to add value to these research-minded organizations has been instrumental in building our substantial number of long-running collaborations."
"We look forward to entering the third year of our ongoing collaboration with BioFocus. As we continue to progress the project, we plan to further utilize BioFocus' knowhow in medicinal chemistry and ADME optimization," said Dr Paolo Chiesi, R&D Director and Vice-President of Chiesi Farmaceutici.
About Chiesi Farmaceutici
With over 3,500 employees around the world, the Chiesi Group produces and distributes successful drugs in 65 countries, and is present on five continents with 24 direct affiliates, four research centers, and three production sites. Respiratory pathologies, special care medicine, and cardiovascular disease are its traditional areas of expertise where it offers many therapeutic options recognized for their effectiveness. More info at:www.chiesigroup.com
BioFocus provides integrated drug discovery that delivers pre-clinical drug candidates in all therapeutic areas with strong capability in neurodegenerative diseases, inflammatory diseases and with a growing track record of delivering candidates against rare and neglected diseases. BioFocus has advanced and comprehensive drug discovery capabilities that are applied to client projects to deliver targets, hits, leads and candidate pre-clinical drugs. The company employs over 220 exceptionally qualified and industry experienced scientists at its three research centers in the UK, Switzerland and the Netherlands. Since its foundation in 1997, BioFocus has striven to produce high quality data for its clients and this quality is assured by ISO9001 qualification validated by regular, independent inspection of all BioFocus research centers. More info at www.biofocus.com
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 programs in development and over 50 discovery programs. Through risk/reward-sharing alliances with GlaxoSmithKline, Lilly, Janssen Pharmaceutica, Roche and Servier, Galapagos is eligible to receive up to EUR2.8 billion in downstream milestones, plus royalties. The Galapagos Group has about 800 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.
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Dr Chris Newton
Tel: +44 1799 533 535
Director Investor Relations
Tel: +31 6 2291 6240