MECHELEN, Belgium, April 24, 2014 (GLOBE NEWSWIRE) -- Galapagos NV (Euronext:GLPG) received notice that Baker Brothers Life Sciences L.P., 667 L.P. and 14159 L.P. currently collectively hold 4.99% of outstanding Galapagos shares.
Pursuant to Belgian transparency legislation1, Galapagos received notice on 18 April 2014 from Baker Brothers Life Sciences L.P., stating that Baker Brothers Life Sciences L.P., 667 L.P. and 14159 L.P. collectively held 1,503,314 shares. This represents 4.99% of the 30,098,837 Galapagos shares currently outstanding and marks a decrease from the 1,722,066 shares previously held by Baker Brothers Life Sciences L.P., 667 L.P. and 14159 L.P., as notified on 10 July 2012.
Galapagos (Euronext: GLPG; OTC: GLPYY) is specialized in novel modes-of-action, with a large pipeline comprising five Phase 2 studies (two led by GSK), one Phase 1 study, six pre-clinical, and 20 discovery small-molecule and antibody programs in cystic fibrosis, inflammation, antibiotics, metabolic disease, and other indications. In the field of inflammation, AbbVie and Galapagos signed a worldwide license agreement whereby AbbVie will be responsible for further development and commercialization of GLPG0634 after Phase 2B. 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 in Phase 2 in Crohn's disease. Selective JAK1 inhibitor GSK2586184 (formerly GLPG0778, in-licensed by GlaxoSmithKline in 2012) met the primary endpoint in a Phase 2 study in psoriasis. An exploratory Phase 1/2 study in ulcerative colitis is currently on hold. 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. GLPG1205 is a first-in-class molecule that targets inflammatory disorders and has completed Phase 1. AbbVie and Galapagos signed an agreement in CF whereby they work collaboratively to develop and commercialize oral drugs that address two mutations in the CFTR gene, the G551D and F508del mutation. Potentiator GLPG1837 is at the pre-clinical candidate stage. Galapagos has 400 employees, operating from its Mechelen, Belgium headquarters and facilities in The Netherlands, France, and Croatia. Further information at: www.glpg.com.
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1 Belgian Act of 2 May 2007 on the disclosure of major shareholdings in issuers whose shares are admitted to trading on a regulated market.