Belgian drug discovery company Galapagos NV (GLPG.BT) said Tuesday it has initiated clinical trials of a small molecule candidate drug from its arthritis alliance with GlaxoSmithKline (GSK).

MAIN FACTS:

- For entering the clinic with candidate drug GLPG0555, Galapagos receives a milestone payment of EUR4 million cash from GSK.

-Since the start of the arthritis alliance in June 2006, Galapagos has received a total of EUR35 million in payments from GSK

-By Brussels Bureau, Dow Jones Newswires; +322 741 1480;
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