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Galapagos' affiliate BioFocus extends collaboration with Amgen into 2012

17 December 2010 at 07:30 CET

Mechelen, Belgium; 17 December 2010 - Galapagos NV (Euronext: GLPG) announced today that its BioFocus service division has extended its contract with Amgen for 2011 and 2012, with an expansion to include target discovery and validation services.  Under the terms of the extended agreement, Galapagos will receive 2.0 M ($2.6 M) in research fees for the first year.  Additionally, Galapagos is eligible to receive payments of access fees and success-based milestones.  

 

The collaboration, which was initiated in 2002 and extended in 2006 and again in 2008, involves the identification of new molecules against various drug targets.  Starting in 2011, the collaboration will involve the addition of BioFocus' unique target discovery platform to deliver novel targets to support Amgen's therapeutic programs. 

 

"We are pleased to have delivered well in our long-standing collaboration with Amgen, resulting in an extension for the third time," said Dr. Chris Newton, Senior VP Galapagos Services.  "With each extension, Amgen has expanded the range of services provided by BioFocus, with target discovery being included this time around.  We are very proud to win this opportunity to deliver high quality, innovative modes of action to Amgen."

 

About BioFocus
BioFocus aims to expand its partners' drug pipelines by accelerating the gene-to-drug candidate discovery process.  This is achieved through a comprehensive discovery platform, which includes target discovery in human primary cells, focused as well as diverse compound libraries, in vitro and cell-based screening, structural biology, medicinal chemistry, ADME/PK services, supported by unique chemogenomic and informatics tools, and compound library acquisition, storage and distribution services.  As a service division of Galapagos, BioFocus has over 250 employees in four countries worldwide.  More info at: www.biofocus.com

 

About Galapagos
Galapagos (Euronext: GLPG; OTC: GLPYY) is a mid-size biotechnology company specialized in the discovery and development of small molecule and antibody therapies with novel modes-of-action. The Company is progressing one of the largest pipelines in biotech, with six clinical and over 50 small molecule discovery/pre-clinical programs. Through risk/reward-sharing alliances with GlaxoSmithKline, Lilly, Janssen Pharmaceutica, Merck & Co., Roche and Servier, Galapagos is eligible to receive up to 3.3 billion in downstream milestones, plus royalties. The Galapagos Group has over 800 employees and operates facilities in seven countries, with global headquarters in Mechelen, Belgium. More info at: www.glpg.com

 

 

CONTACT

 

Galapagos NV
Onno van de Stolpe, CEO
Tel: +31 6 2909 8028

 

Elizabeth Goodwin, Director Investor Relations
Tel: +31 6 2291 6240
ir@glpg.com

 

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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