Mechelen, Belgium; 25 January 2008 - Galapagos NV (Euronext & LSE: GLPG) announced today achievement of a milestone under its alliance agreement in rheumatoid arthritis with Janssen Pharmaceutica NV (‘Janssen’). The milestone triggered a cash payment of EUR 3.4 million to Galapagos.
On 24 October 2007, Galapagos announced an alliance agreement with Janssen providing it with option rights to acquire worldwide, commercial licenses to novel small-molecules from up to 12 of Galapagos’ internal programs involving rheumatoid arthritis (RA) therapeutic targets. The milestone announced today was due to the achievement of a milestone with respect to the GT146 program.
About Galapagos
Galapagos (Euronext Brussels, GLPG; Euronext Amsterdam, GLPGA; London AiM: GLPG) is a drug discovery company with pre-clinical programs in bone and joint diseases and cachexia. Its division BioFocus DPI offers a full suite of target-to-drug discovery products and services to pharmaceutical and biotech companies, encompassing target discovery and validation, screening and drug discovery through to delivery of pre-clinical candidates. BioFocus DPI also provides adenoviral reagents for rapid identification and validation of novel drug targets, compound libraries for drug screening as well as chemogenomics and ADMET database products to select targets and compounds. Galapagos currently employs 460 people and operates facilities in seven countries, with global headquarters in Mechelen, Belgium. More information about Galapagos and BioFocus DPI can be found at www.glpg.com and www.biofocusdpi.com.
CONTACT Galapagos NV Onno van de Stolpe, CEO Tel: +31 6 2909 8028 ir@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. Nothing in this disclaimer is intended to nor does it affect the obligations and responsibilities of Galapagos pursuant to the rules of the exchanges on which Galapagos’ shares are admitted for trading, including the AIM Rules for Companies.
Copyright © Hugin AS 2008. All rights reserved.
