Galapagos receives EU2 million from osteoarthritis alliance with Servier
March 07 2014 - 1:22AM
Galapagos NV (Euronext: GLPG) announced today the receipt
of €2 million for a partial milestone in the osteoarthritis
alliance with Servier. This payment contributes to Group
revenues in 2013.
"We continue to make progress in this alliance,
which aims to develop innovative osteoarthritis therapies based on
novel targets identified by Galapagos," said Onno van de Stolpe,
CEO of Galapagos.
In July 2010, Servier and Galapagos announced
their alliance to develop new oral medicines for the treatment of
osteoarthritis. Galapagos is responsible for the discovery and
development of new candidate drugs against novel targets, and
Servier has an exclusive option to license these after the
completion of Phase 1 clinical trials. Galapagos is eligible
to receive up to €290 million in success-based milestones, plus
royalties on commercial sales. Galapagos also retains
exclusive US commercialization rights to all commercial
compounds.
About Servier
Founded in 1954, Servier is an independent
French pharmaceutical research company. Its development is based on
the continuous pursuit of innovation in the therapeutic areas of
cardiovascular, metabolic, neurologic, psychiatric, bone and joint
diseases as well as cancer. In 2013, the company recorded a
turnover of 4.2 billion euros. 91% of Servier drugs are consumed
internationally. 27% of turnover from Servier drugs were
reinvested in Research and Development in 2013. With a strong
international presence in 140 countries, Servier employs more than
21,000 people worldwide. The Servier Group contributed 35% to
the 2013 French trade surplus in the pharmaceuticals
sector. More information is available at: www.servier.com
About Galapagos
Galapagos (Euronext: GLPG; OTC: GLPYY) is
specialized in novel modes-of-action, with a large pipeline
comprising of six Phase 2 studies (three led by GSK), one Phase 1
study, six pre-clinical, and 20 discovery small-molecule and
antibody programs in cystic fibrosis, inflammation, antibiotics,
metabolic disease, and other indications. 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 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 in Phase 2 in Crohn's disease. Galapagos out-licensed the
selective JAK1 inhibitor GSK2586184, (formerly GLPG0778) to
GlaxoSmithKline in 2012. It is currently in Phase 2 for
psoriasis and ulcerative colitis. GLPG0974 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 is a first-in-class molecule that targets
inflammatory disorders and has completed Phase 1. 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. Potentiator
GLPG1837 is at the pre-clinical candidate stage. The
Galapagos Group, including fee-for-service companies BioFocus,
Argenta and Fidelta, has around 800 employees and operates
facilities in five countries, with global headquarters in Mechelen,
Belgium. Further information at: www.glpg.com
CONTACTS
Servier Servier Communication Department Tel: +33 1 55 72 60 37
presse@servier.fr
Galapagos NV Elizabeth Goodwin, Head of
Corporate Communications & Investor Relations Tel: +31 6 2291
6240 ir@glpg.com
Galapagos forward-looking statements
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.
HUG#1767044
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