* COPD alliance signed in December 2009 and broadened to fibrosis in December 2010
* Strategic change in therapy area at Roche resulted in conclusion of the Alliance
* Galapagos regains full rights to all programs
* Roche pays Galapagos EUR5.75 M for work completed in 2012
MECHELEN, Belgium I March 8, 2013 I Galapagos NV ( EURONEXT BRUSSELS : GLPG ) announced today that it agreed with Roche to end their alliance in fibrosis. Roche will make a payment of EUR5.75 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 EUR16 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."
About Galapagos
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
SOURCE: Galapagos
Post Views: 159
* COPD alliance signed in December 2009 and broadened to fibrosis in December 2010
* Strategic change in therapy area at Roche resulted in conclusion of the Alliance
* Galapagos regains full rights to all programs
* Roche pays Galapagos EUR5.75 M for work completed in 2012
MECHELEN, Belgium I March 8, 2013 I Galapagos NV ( EURONEXT BRUSSELS : GLPG ) announced today that it agreed with Roche to end their alliance in fibrosis. Roche will make a payment of EUR5.75 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 EUR16 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."
About Galapagos
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
SOURCE: Galapagos
Post Views: 159
