2013-03-08 07:32:03 -
* COPD alliance signed in December 2009 and broadened to fibrosis in December
* Strategic change in therapy area at Roche resulted in conclusion of the
* Galapagos regains full rights to all programs
* Roche pays Galapagos €5.75 M for work completed in 2012
Mechelen, Belgium; 8 March 2013 - Galapagos NV (Euronext: GLPG) announced today
that it agreed with Roche to end their alliance in fibrosis. Roche will make a
payment of €5.75 million to Galapagos for work completed in 2012, contributing
to 2012 Group revenues.
With the ending of the alliance, Galapagos has regained the worldwide rights to
all fibrosis assays and the targets
discovered in the alliance. These novel
targets were identified in various unique human primary cell assays mimicking
fibrosis. Galapagos will have received a total of €16 million in upfront and
milestone payments, including this latest payment.
"We regret that Roche ended the alliance due to a strategic change, but the good
news is that all assets have returned to Galapagos," said Onno van de Stolpe,
CEO of Galapagos. "Our plan is to find another partner to continue the search
for compounds against these debilitating diseases."
Galapagos (Euronext: GLPG; OTC: GLPYY) is specialized in novel modes-of-action,
with a large pipeline of four clinical, six pre-clinical, and 30 discovery
small-molecule and antibody programs in cystic fibrosis, inflammation,
antibiotics, metabolic disease, and other indications.
GLPG0634 is an orally-available, selective inhibitor of JAK1 for the treatment
of rheumatoid arthritis and potentially other inflammatory diseases, about to
enter Phase 2b studies. AbbVie and Galapagos signed a worldwide license
agreement whereby AbbVie will be responsible for further development and
commercialization after Phase 2b. Galapagos has another selective JAK1
inhibitor in Phase 2 in lupus and psoriasis, GSK2586184 (formerly GLPG0778, in-
licensed by GlaxoSmithKline in 2012). GLPG0187 is a novel integrin receptor
antagonist currently in a Phase 1b patient study in metastasis. GLPG0974 is the
first inhibitor of GPR43 to be evaluated clinically for the treatment of IBD;
this program will start a Proof of Concept Phase 2 study in Q2 2013.
The Galapagos Group, including fee-for-service companies BioFocus, Argenta and
Fidelta, has over 800 employees and operates facilities in five countries, with
global headquarters in Mechelen, Belgium. Further information at: www.glpg.com
Onno van de Stolpe, Chief Executive Officer
Tel: +31 6 2909 8028
Elizabeth Goodwin, Director Investor Relations
Tel: +31 6 2291 6240
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
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.
Galapagos and Roche conclude strategic alliance:
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