Key Developments: Galapagos NV (GLPYY.PK)
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17 Jun 2013
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Latest Key Developments (Source: Significant Developments)
Galapagos NV Extends Collaboration with AbbVie Inc
Galapagos NV announced together AbbVie Inc an extension of their GLPG0634 clinical development collaboration to include Crohn's disease. Galapagos NV will fund and complete a Phase 2 program in Crohn's disease, which is designed to facilitate rapid progression into Phase 3. Upon successful completion of the study, expected in Q2 2015, AbbVie Inc will pay Galapagos NV USD 50 million. AbbVie Inc will be responsible for funding and performing clinical development beyond Phase 2, and completing regulatory and commercialization activities. Full Article
Galapagos NV Completes Private Placement By Issuance Of 2,696,831 New Ordinary Shares
Galapagos NV announced that it has completed its capital increase by issuing 2,696,831 new ordinary shares. These shares will be delivered to Belgian and international institutional and other eligible investors who participated in the EUR53.9 million private placement closed on April 24, 2013. The newly issued shares were admitted to listing on NYSE Euronext Brussels and NYSE Euronext Amsterdam on April 29, 2013. Full Article
Galapagos NV Raises EUR54 Million
Galapagos NV announced that it has raised EUR53.9 million through a private placement of new shares via an accelerated bookbuilding procedure announced on April 24, 2013. Galapagos has placed 2,696,831 new shares to qualified institutional investors in the United States and Europe at a price of EUR20.00 per share, a 1.7% discount to the previous day's closing price. The placed shares comprise just below 10% of the current number of outstanding shares, bringing the total number of shares after the issue to 29,665,159. The new shares will be admitted to trading on NYSE Euronext Brussels and NYSE Euronext Amsterdam following their issuance, which is expected to take place on April 30, 2013. The net proceeds from the transaction will be used primarily for general corporate purposes and will also give Galapagos additional balance sheet flexibility to enable the Company to further fund attractive internal pipeline opportunities before considering a partnership, and also to undertake attractive inlicensing or acquisition opportunities should they fit with Company strategy. Jefferies International Limited and Kempen & Co. acted as Joint Global Coordinators and Joint Bookrunners for the offering. Full Article
Galapagos NV Starts Phase 2A Study With GLPG0974 In Ulcerative Colitis
Galapagos NV announced the start of the first Phase 2 clinical study with GLPG0974. This is the third compound from Galapagos’ pipeline to enter Phase 2 studies, and its first drug for patients with gastro-intestinal inflammation. GLPG0974 presents a mode of action for the treatment of ulcerative colitis, a debilitating inflammatory bowel disease. The efficacy and safety of GLPG0974 will be tested in a four-week study with 45 patients and will deliver results early 2014. Full Article
Galapagos NV Discovers Novel Candidate Drug To Treat Breast Cancer
Galapagos NV announced that it developed GLPG1790, a candidate drug to treat breast cancer. GLPG1790 has shown activity against breast tumors that are triple-negative, for which the absence of estrogen (ER), progesterone (PR) or HER2 receptors affects the prognosis for recovery, and no targeted therapeutic options are currently available. Candidate drug GLPG1790 is a selective and potent inhibitor of a breast cancer target; the candidate drug has proven to be active against triple-negative breast cancer in a mouse xenograft model where it completely blocks tumor growth. GLPG1790 has drug-like properties, and safety/tolerability studies with the candidate drug look favorable. Galapagos will initiate preclinical studies with GLPG1790, and expects to initiate the first clinical trials in humans within one year. This program is fully proprietary to the Company. Full Article
Galapagos NV Expands Phase 2b Program With GLPG0634; AbbVie To Pay Additional USD 20 Million
Galapagos NV announced the expansion of the Phase 2b program with GLPG0634 in rheumatoid arthritis (RA). The Company will increase the number of patients in the Phase 2b program to 875. AbbVie will provide an additional payment of USD 20 million to the Company prior to the start of the Phase 2b program in RA to fund the program’s expansion to 875 patients. Full Article
Galapagos NV to Start Phase 2a Study with GLPG0974 in IBD Patients
Galapagos NV announced that GLPG0974, an inhibitor of FFA2 (free fatty acid receptor 2, formerly known as GPR43) being developed to treat chronic neutrophil-driven inflammatory conditions such as inflammatory bowel disease (IBD), showed a clean safety profile and a biomarker signal. In this second Phase 1 study with GLPG0974, the safety, tolerability, pharmacodynamics and pharmacokinetics were evaluated in 32 healthy volunteers dosed for 2 weeks. The positive outcome of this study supports progression to a Proof of Concept study in ulcerative colitis patients that is expected to start in 2Q 2013. Full Article
Galapagos NV Announces Termination of Alliance with Lilly
Galapagos NV (Galapagos) announced that the Company decided to end the collaboration with Lilly set to develop mode of action therapies in osteoporosis in 2007. This alliance did not yield the expected results within an acceptable timeframe. The rights to the bone-building program have returned to the Company. During the collaboration with Lilly, Galapagos received a total of EUR 11 million in payments. Full Article
Galapagos NV Issues FY 2013 Revenue Below Analysts
Galapagos NV announced that the Company expects to report FY 2012 revenue of EUR 160 million. According to I/B/E/S estimates analysts on average are expecting the Company to report FY 2013 revenue of EUR 169.42 million. Full Article
Galapagos NV and Roche Concludes Strategic Alliance
Galapagos NV (Galapagos) announced that the Company has agreed with Roche to end their alliance in fibrosis. Roche will make a payment of EUR 5.75 million to Galapagos for work completed in 2012, contributing to 2012 Group revenues. Galapagos will have received a total of EUR 16 million in upfront and milestone payments, including the latest payment. Full Article
BRIEF-Galapagos announces $50m extension to AbbVie deal
BRUSSELS, May 17 - Galapagos NV : * AbbVie and Galapagos extend GLPG0634 collaboration to include crohn's disease * Says AbbVie to pay Galapagos $50 million upon successful completion, expected
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