Mechelen, Belgium; 12 August 2008 – Galapagos NV (Euronext: GLPG) announced today that its service division BioFocus DPI and UCB have signed a contract for the provision of chemistry services in the UK by BioFocus DPI, for one of UCB’s medicinal chemistry programs. The total contract value for Galapagos could potentially exceed €4 M. Additionally, Galapagos is eligible to receive up to €500,000 in success payments subject to fulfillment of certain conditions.
UCB will transfer a team of chemists to BioFocus DPI from UCB’s recently closed Cambridge (UK) research site and BioFocus DPI will continue the chemistry work for the program that was running at UCB, towards candidate selection stage. Under the contract, UCB will provide biology support for the program.
“This agreement with UCB demonstrates BioFocus DPI’s flexibility in meeting client needs,” said Chris Newton, Senior Vice President of BioFocus DPI. “This innovative deal structure allows UCB to progress their program externally while applying the specific project expertise that UCB has already built internally.”
“UCB is delighted to be able to work with BioFocus DPI in this way, combining our expertise to advance this programme towards development,” said Dr Neil Weir, Senior Vice President Research, UCB.