ASCC Aristocrat Group Corporation (PK)

Galapagos  NV (Euronext: GLPG) announced
today that third quarter 2013 results were in line with management expectations.
 Management  revised guidance for 2013 year end cash balance to €135 million (up
from €125 million).  This increase is due to cash received from recent deals and
timing  difference in spending  on clinical development  programs.  The guidance
for 2013 Group revenues remains unchanged at €160 million.

"Galapagos  made progress  on its  financial and  operational goals in the third
quarter,  announcing a major new  collaboration with AbbVie to  add power to our
cystic  fibrosis research efforts,  achievement of milestones  in the alliances,
and  the award  of a  sizeable grant  from the  Flemish IWT,"  said Onno  van de
Stolpe,  CEO of Galapagos.  "We are focused  on delivering the Phase 2B RA study
and  the Phase 2 Crohn's study with GLPG0634, while also achieving our ambitious
clinical milestones on our proprietary and other partnered programs."

In  the  third  quarter  of  2013, Galapagos  reported  a major new alliance and
substantial progress in its R&D programs.

Galapagos  and AbbVie  entered into  a global  alliance to discover, develop and
commercialize  novel potentiator and combination  therapies in cystic fibrosis.
AbbVie  and Galapagos are working collaboratively to contribute technologies and
resources in order to develop and commercialize oral drugs that address the main
mutations in CF patients, including F508del and G551D.  Galapagos received a $45
million  upfront  payment  and  is  eligible  to  receive  up to $360 million in
milestones,  plus double-digit royalties  on sales of  products arising from the
alliance.

On  the clinical  development side,  Galapagos initiated  a First-in-Human (FIH)
Phase  1 study  with  GLPG1205,  which  is  being  developed  in  the  field  of
Inflammatory  Bowel  Disease  in  alliance  with  Janssen  Pharmaceutica.   This
achievement  triggered a €6.6 million milestone payment to Galapagos.  The study
is expected to readout topline results by the end of this year.

In   the   osteoarthritis  alliance  with  Servier,  Galapagos  delivered  novel
molecules.  This achievement involved a late stage discovery milestone for small
molecules  against  a  novel  target;  this  triggered  a  €3 million payment to
Galapagos.   Work on  the pre-clinical  candidate in  the Servier osteoarthritis
alliance  was   ended  in  the  fourth  quarter  due to toxicity findings of the
molecule.   The  most  advanced  compound  in  this  alliance is now in the lead
optimization stage.

The Flemish agency for Innovation by Science and Technology (IWT) awarded
Galapagos a TGO (transformational medical research) grant of €2.4 million for
psoriasis research and development.  The goal of this 4-year project is to bring
a novel mode of action compound into the clinic that might lead to a safe and
effective treatment for patients suffering from psoriasis.

Galapagos now has 5 pre-clinical candidates, three partnered and two fully owned
by Galapagos.  The Company remains on track to nominate an additional pre-
clinical candidate from the potentiator series in cystic fibrosis before year
end.

Galapagos  appointed  David  Smith  as  CEO  of  the  Service Division.  Argenta
announced a drug discovery collaboration with Pcovery, and in the fourth quarter
BioFocus  signed  an  agreement  worth  up  to  $31  million with Biogen Idec in
scleroderma.

About Galapagos
Galapagos (Euronext: GLPG; OTC: GLPYY) is specialized in novel modes-of-action,
with a large pipeline comprising of five Phase 2 studies (two led by GSK), one
Phase 1 study, five pre-clinical, and 20 discovery small-molecule and antibody
programs in cystic fibrosis, inflammation, antibiotics, metabolic disease, and
other indications.
AbbVie and Galapagos signed an agreement in CF where they work collaboratively
to develop and commercialize oral drugs that address two mutations in the CFTR
gene, the G551D and F508del mutation.  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 about to enter Phase 2 studies in
Crohn's disease.  Galapagos has another selective JAK1 inhibitor in Phase 2 in
psoriasis and lupus, GSK2586184 (formerly GLPG0778, in-licensed by
GlaxoSmithKline in 2012).  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 is currently in a First-in-Human Phase 1
study.
The Galapagos Group, including fee-for-service companies BioFocus, Argenta and
Fidelta, has around 800 employees and operates facilities in five countries,
with global headquarters in Mechelen, Belgium.  Further information at:
www.glpg.com

Contact

Guillaume Jetten, CFO
Tel: +31 6 5230 3005
ir@glpg.com

Galapagos forward-looking statements
This release may contain forward-looking statements, including, without
limitation, statements containing the words "believes," "anticipates,"
"expects," "intends," "plans," "seeks," "estimates," "may," "will," "could,"
"stands to," and "continues," as well as similar expressions. Such forward-
looking statements may involve known and unknown risks, uncertainties and other
factors which might cause the actual results, financial condition, performance
or achievements of Galapagos, or industry results, to be materially different
from any historic or future results, financial conditions, performance or
achievements expressed or implied by such forward-looking statements. 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, unless
required by law or regulation.

Galapagos business update: http://hugin.info/133350/R/1743225/586310.pdf

[HUG#1743225]

Aristocrat (PK) (USOTC:ASCC)
Historical Stock Chart
From Jun 2024 to Jul 2024

Aristocrat (PK) (USOTC:ASCC)
Historical Stock Chart
From Jul 2023 to Jul 2024