Mechelen, Belgium; 30 June 2009 – Galapagos NV (Euronext: GLPG) announces that it has been granted the Innovative Enterprise qualification (Entreprises Innovantes au titre des FCPI) from the French governmental organization OSEO that supports innovation and growth of SMEs. French private investors are eligible to receive significant tax advantages for participating in funds which invest in FCPI qualified companies such as Galapagos.
Innovation-focused mutual funds (FCPI) were created by the French 1997 Finance Act in order to support the development of innovative small firms in France. The Act has since been extended and amended to increase the tax benefits gained from holding FCPI units. FCPI funds are subject to approval and audit by the French financial markets authority AMF. Since its inception in 1997, €4.4 billion has been raised by FCPI funds.
“Following the OSEO’s rigorous review process, Galapagos has been recognized as the type of innovative company the French government is looking to support and stimulate,” said Onno van de Stolpe, Galapagos’ CEO. “We are pleased that the acquisition of our French research center in 2006 has brought this additional benefit to the Galapagos Group. Through this qualification, Galapagos is now eligible for investments by FCPI funds, opening the opportunity to a new category of French institutional investors.”
OSEO was created in 2005 by bringing together ANVAR (French Innovation Agency) and BDPME (Development Bank for SMEs). OSEO’s mission is to provide assistance and financial support to French SMEs in the most decisive phases of their life cycle: start up, innovation, development, business transfer/buy out. By sharing the risk, OSEO facilitates the access of SMEs to financing by banking partners and equity capital investors. More info at: www.oseo.fr.
Galapagos (Euronext: GLPG; OTC: GLPYY) is a drug discovery and development company with small molecule programs in bone and joint diseases, bone metastasis, cachexia, anti-infectives and metabolic diseases. It has established risk sharing alliances with GSK, Janssen Pharmaceutica, Eli Lilly and Merck. Through an alliance with MorphoSys, Galapagos is also developing new antibody therapies in bone and joint diseases. Its division BioFocus DPI offers a full suite of target-to-drug discovery products and services to pharmaceutical and biotech companies and to patient foundations, encompassing target discovery and validation, screening and drug discovery through to delivery of pre-clinical candidates. Galapagos currently employs 490 people and operates facilities in six countries, with global headquarters in Mechelen, Belgium. More info at: www.glpg.com.
Elizabeth Goodwin, Director Investor Relations
Tel: +31 62 291 6240
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