May 17, 2013 / 5:45 AM / 5 years ago

Belgium's Galapagos says on track to meet 2013 guidance

BRUSSELS, May 17 (Reuters) - Galapagos, the Belgian developer of drugs to fight autoimmune diseases such as lupus and rheumatoid arthritis, said it was on track to meet its full-year revenue guidance this year.

The company, which raised almost 54 million euros ($69.75 million) in April to acquire new molecules and better fund its own pipeline of products, repeated its expectation for revenues of about 160 million euros this year.

It said earlier on Friday it had extended a collaboration with U.S. drugmaker AbbVie over its GLPG0634 molecule to include tests for stomach complaint Crohn’s disease, putting it in line for an extra $50 million once the study finishes in 2015.

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