Galapagos achieves milestones, broadens scope of Roche alliance
Mechelen, Belgium - Galapagos NV (Euronext: GLPG) announced today that it has achieved €3.5 M in milestone payments in its strategic alliance with Roche (SIX: RO, ROG; OTCQX: RHHBY). The alliance was also broadened to include novel target and drug discovery in fibrosis.
In January 2010, Galapagos announced the start of its COPD strategic alliance with Roche. The alliance was expanded from small molecule and antibody approaches to also include peptides in May 2010. In December 2010, the alliance was broadened to include fibrosis, which is the formation of scar tissue or other fibrous tissue as a result of injury or long-term inflammation in the lungs or other organs.
“Through the alliance with Roche we have yet again proven our ability in novel target discovery across a wide range of disease areas working with human primary cells,” said Graham Dixon, SVP Drug Discovery for Galapagos.
About Galapagos’ alliance with Roche
Galapagos is applying its target discovery platform to discover novel targets and is responsible for the discovery and development of new small molecule candidate drugs against these targets. Roche has exclusive option to license each small molecule program after either clinical candidate selection or completion of Phase I clinical trials. In addition, Roche has an exclusive option to license targets for the discovery and development of antibodies and other therapeutics against these targets. Upon exercise of each option, Roche will be responsible for the further (pre)clinical development and commercialization.
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 €3.3 billion in downstream milestones, plus royalties. The Galapagos Group has over 800 employees and operates facilities in seven 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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