MECHELEN, Belgium and KRAKOW,
Poland, April 16, 2020 /PRNewswire/ -- Galapagos
NV (Euronext: GLPG) (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 Galapagos
Galapagos (Euronext: GLPG) (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.
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 Therapeutics
Ryvu 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:
Elizabeth Goodwin (Investors)
VP Investor Relations
+1-781-460-1784
ir@glpg.com
Carmen Vroonen (Media)
Senior Director Communications & Public Affairs
+32-473-824-874
communications@glpg.com
Natalia Baranowska (Media)
+48-784-069-418
natalia.baranowska@ryvu.com
Julia Balanova (Investors)
+1-646-378-2936
jbalanova@troutgroup.com
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SOURCE Ryvu Therapeutics and Galapagos NV