Galapagos expands and extends drug discovery collaboration with Amgen into 2008
03 January 2007 - 6:01PM
UK Regulatory
Mechelen, Belgium; 3 January 2007 - Galapagos NV (Euronext & LSE:
GLPG) announced that its service division BioFocus DPI has expanded
and extended its longstanding drug discovery collaboration with Amgen
through 2007 and 2008. BioFocus DPI will continue to provide
biology, computational and medicinal chemistry services and will
supply biologically-directed library compounds to Amgen's discovery
programs. Under the terms of the extended agreement, Galapagos will
receive an upfront fee of $2.4 million as a payment for 2007 research
costs. Additionally, Galapagos may receive compensation in the form
of library and technology access fees, research fees, milestone
payments, and bonuses.
The initial collaboration, announced in January 2003, involves the
identification of lead candidates against multiple ion channel
targets. The agreement announced today expands this collaboration to
include all classes of targets, including ion channel, GPCR and
kinase targets. Additionally, the agreement has been expanded to
include the supply of BioFocus DPI's compound collection comprising
700,000 synthetic small molecules and its proprietary natural product
compound collection containing 145,000 pre-purified subfractions,
pure natural products, and semi-synthetic natural products.
"The additional breadth and depth gained by BioFocus DPI's drug
discovery offering this year have helped us to expand our strong
collaborative relationship with Amgen," said Onno van de Stolpe,
Chief Executive Officer of Galapagos. "We are excited that the
potential hits arising from BioFocus DPI's unique library collections
could provide promising lead candidates for Amgen's discovery
programs over the next two years."
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 ADME[1]
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.
CONTACT
Galapagos NV
Onno van de Stolpe, CEO
Tel: +31 6 2909 8028
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.
[1] ADME is the acronym for Absorption, Distribution, Metabolism, and
Excretion: Meeting parameters against these four criteria is critical
to the success of a pharmaceutical compound as a drug.
- ---END OF MESSAGE---
Copyright � Hugin ASA 2007. All rights reserved.
Galapagos (LSE:GLPG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Galapagos (LSE:GLPG)
Historical Stock Chart
From Jul 2023 to Jul 2024