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Galapagos NV: Galapagos receives milestone in osteoarthritis alliance with Servier

2014-08-05 07:30:00
Ticker Giełda ISIC Kraj Miasto
GLPG XBRU Belgium Mechelen






Mechelen, Belgium; 5 August 2014 - Galapagos NV (Euronext: GLPG) announced today

the achievement of a second partial milestone, thereby completing the nomination

of a new pre-clinical candidate in the osteoarthritis alliance with Servier.  On

March 7, Galapagos announced the receipt of ?2M as the first partial milestone.

Today's payment remains undisclosed and contributes to Group revenues in the

first half of 2014.



"GLPG1972 is the second candidate drug that Galapagos delivers in the

osteoarthritis alliance with Servier.  Today's candidate marks an important step

toward finding a disease-modifying therapy for patients suffering from

osteoarthritis, the most common skeletal disorder worldwide, and for which the

unmet medical need remains large," said Onno van de Stolpe, CEO of Galapagos.



"Servier is committed to develop medicines which actually address the cause of

the diseases.  The achievement of this milestone reflects the strength and

commitment in our relationship with Galapagos in the field of osteoarthritis.

 We look forward to continuing our collaboration to advance into clinical

development" said Dr Patricia Belissa Mathiot, Director of Rheumatology

Innovative Pole at Servier.



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 five Phase 2 studies (two led by GSK), two

Phase 1 studies, five 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 has another

selective JAK1 inhibitor in Phase 2 in ulcerative colitis and psoriasis,

GSK2586184 (formerly GLPG0778, in-licensed by GlaxoSmithKline in 2012).

GLPG0974 is the first inhibitor of FFA2 to be evaluated clinically for the

treatment of IBD; this program has completed a Proof-of-Concept Phase 2 study.

GLPG1205 is a first-in-class molecule that targets inflammatory disorders and

has completed Phase 1.  GLPG1690 is a first-in-class compound that targets

pulmonary diseases and is currently in a Phase 1 study.  AbbVie and Galapagos

signed an agreement in CF whereby 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 subsidiary Fidelta, has

around 400 employees, operating from its Mechelen, Belgium headquarters and

facilities in The Netherlands, France, and Croatia.  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.







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Source: Galapagos NV via GlobeNewswire

[HUG#1846205]





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