Galapagos NV

July 01, 2013 12:15 ET

Galapagos Increases Share Capital Through Warrant Exercises

MECHELEN, BELGIUM--(Marketwired - Jul 1, 2013) - Galapagos NV (EURONEXT BRUSSELS: GLPG) announced today a capital increase arising from employee and management warrant exercises.

Since its inception in 1999, Galapagos has used warrant plans to incentivize personnel and management and have them share in the success of the company. Following warrant exercises during the exercise period running from 8 June 2013 through 21 June 2013, Galapagos issued 90,143 new ordinary shares on 1 July 2013 for a total capital increase (including issuance premium) of EUR584,200.40.

Galapagos' Executive Committee has put a warrant exercise program into place whereby Executive Committee members have made a commitment to exercise a fixed number of warrants during subsequent exercise periods, subject to certain conditions. During this exercise period, three Executive Committee members exercised warrants for a combined total of 7,500 warrants. CEO Onno van de Stolpe did not exercise any warrants.

To date, Galapagos' total share capital amounts to EUR160,962,030.82; the total number of securities conferring voting rights is 29,755,302, which is also the total number of voting rights (the "denominator"), and all securities conferring voting rights and all voting rights are of the same category. The total number of rights (warrants) to subscribe to not yet issued securities conferring voting rights is 3,033,225, which equals the total number of voting rights that may result from the exercise of these warrants.

About Galapagos

Galapagos (Euronext: GLPG; OTC: GLPYY) is specialized in novel modes-of-action, with a large pipeline of four clinical, seven 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, currently in Phase 2B studies in RA and about to enter Phase 2 studies in Crohn's disease. 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 FFA2 to be evaluated clinically for the treatment of IBD; this program is currently in a Proof of Concept Phase 2 study.

The Galapagos Group, including fee-for-service companies BioFocus, Argenta and Fidelta, has 800 employees and operates facilities in five countries, with global headquarters in Mechelen, Belgium. Further information at:

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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Source: Galapagos NV via Thomson Reuters ONE


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