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AbbVie and Galapagos to Co-Develop Cystic Fibrosis Therapies
Date:9/24/2013

pment.  Galapagos is eligible to receive up to $360 million in total additional payments for developmental and regulatory milestones, sales milestones upon the achievement of minimum annual net sales thresholds and additional double-digit royalty payments on net sales.

"Galapagos is very pleased to join forces with AbbVie in this exciting new area of CF.  Our programs in CF show promise.  Partnering with AbbVie allows us to ramp up our commitment significantly, share development risk and expertise, and increase our chances of bringing best-in-class therapies to CF patients," said Onno van de Stolpe, chief executive officer, Galapagos.

"We're pleased to enhance our partnership with Galapagos to include research in cystic fibrosis, a debilitating disease with significant unmet medical need. Our knowledge of the patient experience, combined with innovative advances in the understanding of disease etiology, offers the potential for new transformational treatments," said Jim Sullivan, Ph.D., vice president, pharmaceutical discovery, AbbVie.

Galapagos initiated its research in CF in 2005 as part of a collaboration with the Cystic Fibrosis Foundation.  In 2010, Galapagos decided to pursue CF as the first orphan disease in which the company is attempting to discover, develop and launch its own medicines.  Galapagos has developed small molecule therapies that can restore the function of the defective CF protein (CFTR).  The first pre-clinical candidate is expected to be nominated this year, with the first clinical trials starting at the end of 2014.

Webcast presentation
Galapagos will hold an audio webcast presentation for journalists, analysts, and investors today at 15.00 CET/9 am ET /6 am PT, viewable at www.glpg.com.

About Cystic Fibrosis
Cystic fibrosis (CF) is a hereditary disease of the entire body which
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SOURCE AbbVie
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