Galapagos announces milestone in collaboration with Boehringer
Ingelheim
Mechelen, Belgium; 20 July 2007 – Galapagos NV (Euronext
& LSE: GLPG) announced today that its BioFocus DPI service division
has received a milestone payment in the autoimmune discovery research
collaboration with Boehringer Ingelheim.
The
three-year collaboration announced in January 2006 involves an expansion
of BioFocus DPI’s SilenceSelect® sh-RNA based gene collection
with an additional gene set, the development of a dedicated cellular
assay in the field of autoimmune diseases, and its application in
a target discovery screen for Boehringer Ingelheim’s autoimmune
discovery research. Galapagos obtained upfront fees, will continue
to receive research and development funding, and will receive milestone
fees when certain drug discovery criteria are met. Should all criteria
on a target be achieved, total potential contract value for Galapagos
may exceed €2 million.
“This
milestone speaks to BioFocus DPI’s ability to deliver on longer
term, higher value collaborations,” said Onno van de Stolpe,
Chief Executive Officer of Galapagos. “We are delighted that
the collaboration with Boehringer Ingelheim has progressed as planned
and is on track to continue delivering value.”
About
Galapagos
Galapagos (Euronext Brussels, GLPG; Euronext Amsterdam, GLPGA; London
AiM: GLPG) is a drug discovery company with clinical and pre-clinical
programs in bone and joint diseases, cachexia, and menopausal hot
flashes. Its division BioFocus DPI offers a full suite of target-to-drug
discovery products and services to pharmaceutical and biotech companies,
encompassing target discovery and validation, screening and drug
discovery through to delivery of pre-clinical candidates. BioFocus
DPI also provides adenoviral reagents for rapid identification and
validation of novel drug targets, compound libraries for drug screening
as well as chemogenomics and ADMET database products to select targets
and compounds. Galapagos currently employs 450 people and operates
facilities in eight countries, with global headquarters in Mechelen,
Belgium. More information about Galapagos and BioFocus DPI can be
found at www.glpg.com
and www.biofocusdpi.com.
CONTACTS
Galapagos
NV
Onno van de Stolpe, CEO
Tel: +31 6 2909 8028
ir@glpg.com
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release may contain forward-looking statements, including, without
limitation, statements containing the words “believes,”
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“plans,” “seeks,” “estimates,”
“may,” “will,” “could,” “stands
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