SOURCE: Galapagos NV

September 19, 2006 14:39 ET

Galapagos raises EUR 11.1 million from new equity issue

MECHELEN, BELGIUM -- (MARKET WIRE) -- September 19, 2006 -- Galapagos NV (Euronext & LSE: GLPG) has placed 1,305,074 new shares in a successful private placement with Fortis Bank NV, at a price of EUR 8.50 per share. Fortis intends to place these new shares with international institutional clients via an accelerated bookbuilding procedure. Galapagos raised gross proceeds of EUR 11.1 million.

The Board of Directors of Galapagos has authorized this capital increase of EUR 11.1 million by the issuance of 1,305,074 new ordinary shares, effective as of 19 September 2006, at a price per share of EUR 8.50, reflecting the average share price on Euronext Amsterdam over the last 30 days. The new shares are expected to be admitted to trading and listing on Eurolist by Euronext Brussels and Euronext Amsterdam and on AiM on 22 September 2006. As a result of the placement, Galapagos will have 14,355,817 ordinary shares outstanding.

"We are very pleased with this capital increase, an expression of confidence in our strategy," said Onno van de Stolpe, Chief Executive Officer of Galapagos. "The proceeds will be instrumental in further developing our programs in bone and joint diseases, with our lead drug in rheumatoid arthritis expected to enter the clinic in 2008."

About Galapagos

Galapagos is a publicly traded, genomics-based drug discovery company (Euronext Brussels, GLPG; Euronext Amsterdam, GLPGA, London AiM: GLPG) that has drug discovery programs based on proprietary, novel targets in bone and joint diseases - osteoarthritis, osteoporosis and rheumatoid arthritis. Galapagos offers a full suite of target-to-drug discovery products and services to pharmaceutical and biotech companies through its division BioFocus DPI, encompassing target discovery and drug discovery services through to delivery of pre-clinical candidates. In addition, BioFocus DPI provides adenoviral reagents for rapid identification and validation of novel drug targets and compound libraries for drug screening. Galapagos currently employs more than 330 people, including 144 PhDs, and operates facilities in seven countries, with global headquarters in Mechelen, Belgium. More information about Galapagos and BioFocus DPI can be found at www.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," 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.

Copyright © Hugin ASA 2006. All rights reserved.

Contact Information

  • CONTACT

    Galapagos NV
    Onno van de Stolpe, CEO
    Tel: +31 6 2909 8028
    ir@glpg.com