SOURCE: Galapagos NV

December 03, 2009 01:44 ET

Galapagos achieves multiple milestones in rheumatoid arthritis alliance

MECHELEN, BELGIUM--(Marketwire - December 3, 2009) - Galapagos NV (Euronext: GLPG) announced today achievement of multiple milestones under its alliance agreement in rheumatoid arthritis. The milestones trigger a cash payment of EUR 10.2 million to Galapagos.

In October 2007, Galapagos announced an alliance agreement with Janssen Pharmaceutica NV (Janssen) providing Janssen with option rights to acquire worldwide, commercial licenses to novel small molecules from up to 12 of Galapagos' internal programs involving rheumatoid arthritis therapeutic targets. The milestones announced today are the result of several of these programs reaching the next phase of medicinal chemistry optimization.

"We are pleased that the molecules derived under the rheumatoid arthritis alliance have met the agreed upon criteria," said Onno van de Stolpe, CEO of Galapagos. "Galapagos continues to deliver high quality research and remains on course for achieving its goals for the year."

About Galapagos

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 GlaxoSmithKline, Lilly and Merck and Co. Through an alliance with MorphoSys, Galapagos is also developing new antibody therapies in bone and joint diseases. Its division BioFocus 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 495 people and operates facilities in six countries, with global headquarters in Mechelen, Belgium. More info at:

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

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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