Mechelen, Belgium; 12 August 2008 - Galapagos NV (Euronext: GLPG) announced today that its service division BioFocus DPI and UCB have signed a contract for the provision of chemistry services in the UK by BioFocus DPI, for one of UCB’s medicinal chemistry programs. The total contract value for Galapagos could potentially exceed EUR 4 M. Additionally, Galapagos is eligible to receive up to EUR 500,000 in success payments subject to fulfillment of certain conditions.
UCB will transfer a team of chemists to BioFocus DPI from UCB’s recently closed Cambridge (UK) research site and BioFocus DPI will continue the chemistry work for the program that was running at UCB, towards candidate selection stage. Under the contract, UCB will provide biology support for the program.
“This agreement with UCB demonstrates BioFocus DPI’s flexibility in meeting client needs,” said Chris Newton, Senior Vice President of BioFocus DPI. “This innovative deal structure allows UCB to progress their program externally while applying the specific project expertise that UCB has already built internally.”
“UCB is delighted to be able to work with BioFocus DPI in this way, combining our expertise to advance this programme towards development,” said Dr Neil Weir, Senior Vice President Research, UCB.
About Galapagos and BioFocus DPI
Galapagos (Euronext Brussels: GLPG; Euronext Amsterdam: GLPGA; OTC: GLPYY) is a drug discovery company with pre-clinical programs in bone and joint diseases and bone metastasis. 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 ADMET products to select compounds. Galapagos currently employs 490 people and operates facilities in six 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.
CONTACTS
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. 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.
Copyright © Hugin AS 2008. All rights reserved.
Contact: Source: Galapagos NV
