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.
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
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:
Servier Communication Department
Tel: +33 1 55 72 60 37
Elizabeth Goodwin, Head of Corporate Communications & Investor Relations
Tel: +31 6 2291 6240
Galapagos forward-looking statements
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or achievements of Galapagos, or industry results, to be materially different
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