LEIDEN, The Netherlands, March 9, 2005 (PRIMEZONE) -- Galapagos Genomics NV, a genomics-based drug discovery company, announces that it is considering a Euronext stock exchange listing in 2005. The primary reason for the listing is to raise additional funds to enhance Galapagos' drug discovery operations, which are predominantly aimed at developing breakthrough medicines for the bone and joint diseases -- osteoarthritis, osteoporosis and rheumatoid arthritis.Galapagos has already successfully discovered and validated novel targets in these bone and joint diseases, as well as in its asthma and Alzheimer's disease programs. Moreover, Galapagos recently partnered its asthma program with GlaxoSmithKline. In addition to its drug discovery operations, Galapagos provides reagents and functional screens to leading pharmaceutical, biotech and nutraceutical companies through its services unit Galadeno. Using a proprietary technology platform, Galadeno is able to rapidly identify and validate novel drug targets. Galapagos currently employs 63 people, including 15 PhDs, and is based in Mechelen (Belgium), and in Leiden (The Netherlands). Partners include Bayer, Boehringer Ingelheim, Celgene, GSK, Johnson & Johnson, Pfizer, Procter & Gamble, Vertex and Wyeth.
Galapagos was founded in 1999 by Crucell (Nasdaq:CRXL) (Euronext:CRXL) and Tibotec to exploit Crucell's unique PER.C6(R) technology for target discovery. The shareholders include Abingworth Management, AlpInvest Partners, Apax Partners, Burrill & Company, Crucell and Tibotec-Virco. Further information on Galapagos can be found on www.glpg.com.