Galapagos receives milestone in osteoarthritis alliance with Servier
05 Août 2014 - 7:31AM
Mechelen,
Belgium; 5 August 2014 - Galapagos NV (Euronext: GLPG) announced
today the achievement of a second partial milestone, thereby
completing the nomination of a new pre-clinical candidate in the
osteoarthritis alliance with Servier. On March 7, Galapagos
announced the receipt of €2M as the first partial milestone.
Today's payment remains undisclosed and contributes to Group
revenues in the first half of 2014.
"GLPG1972 is the second candidate
drug that Galapagos delivers in the osteoarthritis alliance with
Servier. Today's candidate marks an important step toward
finding a disease-modifying therapy for patients suffering from
osteoarthritis, the most common skeletal disorder worldwide, and
for which the unmet medical need remains large," said Onno van de
Stolpe, CEO of Galapagos.
"Servier is committed to develop
medicines which actually address the cause of the diseases.
The achievement of this milestone reflects the strength and
commitment in our relationship with Galapagos in the field of
osteoarthritis. We look forward to continuing our
collaboration to advance into clinical development" said Dr
Patricia Belissa Mathiot, Director of Rheumatology Innovative Pole
at Servier.
In July 2010, Servier and
Galapagos announced their alliance to develop new oral medicines
for the treatment of osteoarthritis. Galapagos is responsible
for the discovery and development of new candidate drugs against
novel targets, and Servier has an exclusive option to license these
after the completion of Phase 1 clinical trials. Galapagos is
eligible to receive up to €290 million in success-based milestones,
plus royalties on commercial sales. Galapagos also retains
exclusive US commercialization rights to all commercial
compounds.
About
Servier
Founded in 1954, Servier is an independent French pharmaceutical
research company. Its development is based on the continuous
pursuit of innovation in the therapeutic areas of cardiovascular,
metabolic, neurologic, psychiatric, bone and joint diseases as well
as cancer. In 2013, the company recorded a turnover of 4.2
billion euros. 91% of Servier drugs are consumed
internationally. 27% of turnover from Servier drugs were
reinvested in Research and Development in 2013. With a strong
international presence in 140 countries, Servier employs more than
21,000 people worldwide. The Servier Group contributed 35% to
the 2013 French trade surplus in the pharmaceuticals sector.
More information is available at: www.servier.com
About
Galapagos
Galapagos (Euronext: GLPG; OTC: GLPYY) is specialized in novel
modes-of-action, with a large pipeline comprising five Phase 2
studies (two led by GSK), two Phase 1 studies, five pre-clinical,
and 20 discovery small-molecule and antibody programs in cystic
fibrosis, inflammation, antibiotics, metabolic disease, and other
indications. In the field of inflammation, AbbVie and
Galapagos signed a worldwide license agreement whereby AbbVie will
be responsible for further development and commercialization of
GLPG0634 after Phase 2B. GLPG0634 is an orally-available,
selective inhibitor of JAK1 for the treatment of rheumatoid
arthritis and potentially other inflammatory diseases, currently in
Phase 2B studies in RA and in Phase 2 in Crohn's disease.
Galapagos has another selective JAK1 inhibitor in Phase 2 in
ulcerative colitis and psoriasis, GSK2586184 (formerly GLPG0778,
in-licensed by GlaxoSmithKline in 2012). GLPG0974 is the
first inhibitor of FFA2 to be evaluated clinically for the
treatment of IBD; this program has completed a Proof-of-Concept
Phase 2 study. GLPG1205 is a first-in-class molecule that
targets inflammatory disorders and has completed Phase 1.
GLPG1690 is a first-in-class compound that targets pulmonary
diseases and is currently in a Phase 1 study. AbbVie and
Galapagos signed an agreement in CF whereby they work
collaboratively to develop and commercialize oral drugs that
address two mutations in the CFTR gene, the G551D and F508del
mutation. Potentiator GLPG1837 is at the pre-clinical
candidate stage. The Galapagos Group, including
fee-for-service subsidiary Fidelta, has around 400 employees,
operating from its Mechelen, Belgium headquarters and facilities in
The Netherlands, France, and Croatia. Further information at:
www.glpg.com
CONTACTS
Servier
Servier Communication Department
Tel: +33 1 55 72 60 37
presse@servier.fr
Galapagos NV
Elizabeth Goodwin, Head of Corporate Communications & Investor
Relations
Tel: +31 6 2291 6240
ir@glpg.com
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Source: Galapagos NV via Globenewswire
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