Galapagos NV Subsidiary BioFocus DPI Lines Up $31 Million Windfall From Agreement With Biogen Idec, Inc. (Massachusetts)
Published: Nov 12, 2013
GALAPAGOS : subsidiary BioFocus signs agreement with Biogen Idec in scleroderma
Mechelen (Belgium); 12 November 2013 - Galapagos NV (Euronext: GLPG) announced today that its subsidiary BioFocus signed a 3-year collaboration agreement with Biogen Idec focused on the identification and validation of novel targets in scleroderma.
Galapagos' service division BioFocus will use its SilenceSelect® platform and unique human skin models to deliver new assays and identify disease-modifying targets in scleroderma to Biogen Idec. Under the terms of the agreement, BioFocus will receive an upfront payment, FTE funding, and will be eligible to receive success payments for target discovery milestones to be delivered by BioFocus and development milestones achieved by Biogen Idec. The total value of this collaboration to BioFocus could reach $31 million.
"We believe Galapagos has unique expertise with relevant human primary cells, positioning them well to find new targets for disease-modifying therapies against scleroderma," said Jo Viney, vice president of discovery sciences at Biogen Idec.
"We welcome Biogen Idec to our client base and look forward to applying our versatile target discovery engine to yet another new disease area with unmet medical need," added David Smith, CEO Galapagos Services.
Scleroderma is an autoimmune disease characterized by hardening of the skin. Patients with diffuse scleroderma also experience hardening of the organs, which can be particularly disabling and also fatal. Scleroderma is found worldwide, affecting 1 in 1000 in the United States, with women four times more likely than men to develop the disease. The root causes of the disease are not well understood, and there are no disease-modifying treatments.
BioFocus provides integrated drug discovery that delivers pre-clinical drug candidates in all therapeutic areas with strong capabilities in neurodegenerative diseases, inflammatory diseases and rare and neglected diseases. BioFocus has advanced and comprehensive drug discovery capabilities that are applied to client projects to deliver targets, hits, leads and pre-clinical candidates. The company employs over 150 scientists at its research centres in the UK and the Netherlands. For more information, visit us at Twitter:
https://plus.google.com/u/0/b/112845688840169829077/112845688840169829077/admin#112845688840169829077/posts and at www.biofocus.com:
http://www.glpg.com/ (Euronext: GLPG; OTC: GLPYY) is specialized in novel modes-of-action, with a large pipeline of five Phase 2 (two led by GSK), one Phase 1, six pre-clinical, and 20 discovery small-molecule and antibody programs in cystic fibrosis, inflammation, antibiotics, metabolic disease, and other indications.
AbbVie and Galapagos signed an agreement in CF where they work collaboratively to develop and commercialize oral drugs that address two mutations in the CFTR gene, the G551D and F508del mutation. In the field of inflammation, AbbVie and Galapagos signed a worldwide license agreement whereby AbbVie will be responsible for further development and commercialization of GLPG0634:
http://www.glpg.com/index.php/randd/pipeline/glpg0634-ra/ after Phase 2B. GLPG0634 is an orally-available, selective inhibitor of JAK1 for the treatment of rheumatoid arthritis and potentially other inflammatory diseases, currently in Phase 2B studies in RA and about to enter Phase 2 studies in Crohn's disease. Galapagos has another selective JAK1 inhibitor in Phase 2 in lupus and psoriasis, GSK2586184 (formerly GLPG0778, in-licensed by GlaxoSmithKline in 2012). GLPG0974: http://www.glpg.com/index.php/randd/pipeline/glpg0974-inflammatory/ is the first inhibitor of FFA2 to be evaluated clinically for the treatment of IBD; this program is currently in a Proof-of-Concept Phase 2 study. GLPG1205:
http://www.glpg.com/index.php/randd/alliances/rheumatoid-arthritis/ is a first-in-class molecule that targets inflammatory disorders and is currently in a First-in-Human Phase 1 study.
The Galapagos Group, including fee-for-service companies BioFocus:
http://www.argentadiscovery.com/ and Fidelta:
http://www.fidelta.eu/, has around 800 employees and operates facilities in five countries, with global headquarters in Mechelen, Belgium. Further information at: www.glpg.com:
Elizabeth Goodwin, Director Investor Relations
Tel: +31 6 2291 6240
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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