Mechelen,
Belgium, June 11, 2003 -- Galapagos Genomics, a privately
held functional genomics company, today announced that it
has entered into collaboration with Procter & Gamble in
the field of osteoporosis. Under the terms of the agreement,
P&G obtains access to novel targets that drive bone formation.
The targets have been discovered by Galapagos using its adenovirus
based PhenoSelect™ technology and validated in multiple
models. P&G will use its expertise in osteoporosis to
further validate the role of these targets in osteoporosis
disease and where appropriate, initiate the development of
novel drugs based on these proteins. Under the terms of the
agreement, Galapagos is eligible for option fees, milestone
payments and royalties on product sales. Financial terms were
not disclosed.
“This
deal confirms that Galapagos’ PhenoSelect platform
is ideally suited to find novel genes that are key regulators
of disease processes. We are delighted to have P&G as
a partner for these osteoporosis targets,” said Onno
van de Stolpe, CEO of Galapagos. “With the disease
focus and development expertise of P&G, we are confident
that these targets are in the best hands to be developed
into novel therapeutics for osteoporosis”.
“With
this collaboration, we are expanding our relationship with
Galapagos. In addition to using their adenoviral technology
to validate our own targets, we now have access to Galapagos’
validated osteogenic targets,” said Dr. Larry Games,
Procter & Gamble Vice President, Research and Development,
Global Pharmaceuticals. “The next generation therapeutics
in osteoporosis will need to have bone forming activity,
and this is exactly what Galapagos’ targets are aimed
at”.
Disease
background
Osteoporosis is principally a disease of middle age during
which hormone levels essential for maintaining bone density,
decline. The development of osteoporosis is characterized
by a clinically significant reduction in mean bone density
due to an increase in bone resorption. The disease is four
times as common in women than men. The enormous health care
costs associated with osteoporosis, estimated at $15 billion
in the USA, are related to the greatly increased incidence
of fractures in osteoporosis patients. Whereas most current
therapies have an anti-resorptive mechanism of action, agents
with bone-forming properties can be identified for future
therapies by identifying targets and molecules with anabolic
functions and actions.
AboutGalapagos
Galapagos Genomics is a privately held company headquartered
in Mechelen, Belgium. The Company has built a functional
genomics platform using arrayed adenoviruses containing
human gene sequences. It's knock-in PhenoSelect and knock-down
SilenceSelect collections are in an arrayed format that
enables high-throughput screening using cellular assays.
Galapagos is using its technology platform for the discovery
and validation of proprietary drug targets and for partnering
with biotechnology and pharmaceutical companies. It’s
research programs focus on three disease areas: Alzheimer’s
disease, bone diseases and psoriasis. The Company currently
employs 94 people, including 22 PhD's, and occupies a 2000
sq.m. research and production facility in Mechelen, with
additional research laboratories in Leiden, The Netherlands.
Galapagos’ other partners include Bayer, Euroscreen,
Exelixis, Incyte, Johnson&Johnson, Organon, Pharmacia,
UCB Pharma and Vertex. The shareholders are Abingworth Management,
Apax Partners, Burrill&Company, NIB Capital Private
Equity, Crucell Holland BV (Nasdaq, Euronext: CRXL) and
Tibotec-Virco NV. More information on Galapagos can be found
at www.galapagosgenomics.com.
PhenoSelect™ and SilenceSelect™ are pending
trademarks owned by Galapagos Genomics NV.
About
Procter & Gamble
Two billion times a day, P&G brands touch the lives
of people around the world. Some of the nearly 300 P&G
brands consumers know and use with confidence in over 160
countries around the world include: Pampers®, Tide®,
Ariel®, Always®, Whisper®, Pantene®, Bounty®,
Pringles®, Folgers®, Charmin®, Downy®, Lenor®,
Iams®, Crest®, Olay®, and Clairol Nice ‘n
Easy®. Some of P&G Pharmaceuticals leading prescription
products include Actonel® (risedronate sodium tablets),
Asacol® (mesalamine), and Macrobid® (nitrofurantoin
monohydrate macrocrystals). The P&G community consists
of nearly 102,000 employees working in almost 80 countries
worldwide. Please visit www.pg.com
for the latest news and in-depth information about P&G
and its brands.
For more information, please contact:
Onno van de Stolpe, CEO
+32 15 342 900
onno@galapagos.be
