MECHELEN, Belgium, Dec. 6, 2013 (GLOBE NEWSWIRE) -- Galapagos NV (Euronext:GLPG) announced today a capital increase arising from employee and management warrant exercises.
Since its inception in 1999, Galapagos has used warrant plans to incentivize personnel and management and have them share in the success of the company. Following warrant exercises during the exercise period running from 20 November 2013 through 3 December 2013, Galapagos issued 3,025 new ordinary shares on 6 December 2013 for a total capital increase (including issuance premium) of €19,216.25.
Galapagos' Executive Committee has put a warrant exercise program into place whereby Executive Committee members have made a commitment to exercise a minimum number of warrants during subsequent exercise periods, subject to certain conditions. During this exercise period, one Executive Committee member exercised warrants for a total of 2,500 warrants.
To date, Galapagos' total share capital amounts to €161,171,635.86; the total number of securities conferring voting rights is 29,794,046, which is also the total number of voting rights (the "denominator"), and all securities conferring voting rights and all voting rights are of the same category. The total number of rights (warrants) to subscribe to not yet issued securities conferring voting rights is 3,643,326, which equals the total number of voting rights that may result from the exercise of these warrants. Galapagos does not have any convertible bonds or shares without voting rights outstanding.
Galapagos (Euronext:GLPG) (OTC:GLPYY) is specialized in novel modes-of-action, with a large pipeline comprising of six Phase 2 studies (three 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 ulcerative colitis, 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, a first-in-class molecule that targets inflammatory disorders, has completed Phase 1 studies.
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
Elizabeth Goodwin, Director Investor Relations
Tel: +31 6 2291 6240
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