Galapagos and Ryvu announce research collaboration
April 16 2020 - 1:30AM
Mechelen, Belgium and Krakow, Poland; 16 April 2020,
07.30 CET – Galapagos NV (Euronext & NASDAQ:
GLPG) and Ryvu Therapeutics S.A. (WSE: RVU) today announced a
collaboration focused on the discovery and development of novel
small molecule drugs in inflammation.
Ryvu specializes in the discovery and development of
first-in-class small molecules and drug candidates in diseases with
high unmet medical needs. The collaboration announced today is
based on a novel drug target identified by Ryvu, which will
contribute its technology platform and related intellectual
property (IP). Ryvu and Galapagos will both provide resources to
support the collaboration and make use of their expertise in
high-throughput screening, biology, medicinal chemistry, and
toxicology.
This is a joint research collaboration in which
Ryvu is responsible for early drug discovery. Under the terms of
the agreement, Galapagos will have an exclusive option to license
IP developed by Ryvu and to continue to develop this during the
collaboration. Pending achievement of pre-agreed criteria and
utilizing its option, Galapagos will be responsible for all further
development of the program.
In exchange for global development and
commercialization rights, Ryvu will receive an upfront payment and
will be eligible for further option, milestone, and royalty
payments.
“We believe that the collaboration with Ryvu is
an excellent fit, as both companies are driven by the search for
novel drugs to address unmet medical needs,” says Dr. Piet
Wigerinck, Chief Scientific Officer at Galapagos. “We look forward
to collaborating with the Ryvu team to push this program
forward.”
Pawel Przewiezlikowski, Ryvu Chief Executive
Officer, added: “We are thrilled to start working with Galapagos, a
real role model for the European biotechnology sector. Throughout
joint discussions on the collaboration, our teams have developed a
strong rapport and built the foundations for a very promising start
for the new project on an exciting novel target.”
About GalapagosGalapagos
(Euronext & NASDAQ: GLPG) discovers and develops small molecule
medicines with novel modes of action, three of which show promising
patient results and are currently in late-stage development in
multiple diseases. Our pipeline comprises discovery through Phase 3
programs in inflammation, fibrosis, osteoarthritis and other
indications. Our ambition is to become a leading global
biopharmaceutical company focused on the discovery, development and
commercialization of innovative medicines. More information at
www.glpg.com.
ContactInvestors:
Elizabeth GoodwinVP Investor Relations +1 781
460 1784
Sofie Van GijselDirector Investor Relations+32
485 19 14 15ir@glpg.com
Media:Carmen VroonenSenior
Director Communications & Public Affairs+32 473 824 874
Evelyn FoxDirector Communications+31 6 53 591
999communications@glpg.com
Forward-looking statements
This release may contain forward-looking
statements, including, among other things, statements regarding the
success of the collaboration with Ryvu, the identification and
validation of a target by Ryvu, the potential future exercise of
any option granted to Galapagos, the mechanism of action and
profile of, and timing and results of clinical trials with, and
potential commercialization of, any compounds coming out of any
in-licensed program, as well as statements regarding potential
future option exercise, milestone and royalty payments. Galapagos
cautions the reader that forward-looking statements are not
guarantees of future performance. Forward-looking statements
involve known and unknown risks, uncertainties and other factors
which might cause the actual results, financial condition and
liquidity, performance or achievements of Galapagos, or industry
results, to be materially different from any historic or future
results, financial conditions and liquidity, performance or
achievements expressed or implied by such forward-looking
statements. In addition, even if Galapagos’ results, performance,
financial condition and liquidity, and the development of the
industry in which it operates are consistent with such
forward-looking statements, they may not be predictive of results
or developments in future periods. Among the factors that may
result in differences are that Galapagos’ expectations regarding
the further development of any potential future in-licensed
program, including its potential to address a large unmet need in
inflammation, may be incorrect, the inherent uncertainties
associated with competitive developments, clinical trial and
product development activities and regulatory approval requirements
(including that data from research and development programs may not
support further development of the compound(s) due to safety,
efficacy or other reasons), Galapagos’ reliance on collaborations
with third parties and estimating the commercial potential of
Galapagos’ product candidates. A further list and description of
these risks, uncertainties and other risks can be found in
Galapagos’ Securities and Exchange Commission (SEC) filings and
reports, including in Galapagos’ most recent annual report on Form
20-F filed with the SEC and other filings and reports filed by
Galapagos with the SEC. Given these uncertainties, the reader is
advised not to place any undue reliance on such forward-looking
statements. These forward-looking statements speak only as of the
date of publication of this document. Galapagos expressly disclaims
any obligation to update any such forward-looking statements in
this document to reflect any change in its expectations with regard
thereto or any change in events, conditions or circumstances on
which any such statement is based or that may affect the likelihood
that actual results will differ from those set forth in the
forward-looking statements, unless specifically required by law or
regulation.
About Ryvu TherapeuticsRyvu
Therapeutics is a clinical stage biopharmaceutical company
developing novel small molecule therapies that address emerging
targets in oncology. Pipeline candidates make use of diverse
therapeutic mechanisms driven by emerging knowledge of cancer
biology, including small molecules directed at kinase, synthetic
lethality, immuno-oncology and cancer metabolism targets. SEL120 is
a selective CDK8 kinase inhibitor with potential for the treatment
of hematological malignancies and solid tumors currently in
clinical development for the treatment of acute myeloid leukemia
and myelodysplastic syndrome. SEL24/MEN1703 is a dual PIM/FLT3
kinase inhibitor licensed to the Menarini Group in clinical
development for the treatment of acute myeloid leukemia. Ryvu is
listed on the Warsaw Stock Exchange in Poland (WSE:RVU). For more
information, please see www.ryvu.com.
Contacts Ryvu:
Media:
Natalia Baranowska +48 784 069
418natalia.baranowska@ryvu.com
Investors:Julia Balanova +1 646 378
2936jbalanova@troutgroup.com
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