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Published in Health and Fitness on Monday, June 29th 2009 at 22:58 GMT, Last Modified on 2009-06-29 22:59:19 by Market Wire
MECHELEN, BELGIUM--(Marketwire - June 30, 2009) - Galapagos NV (Euronext: GLPG) announces that it has been granted the Innovative Enterprise qualification (Entreprises Innovantes au titre des FCPI) from the French governmental organization OSEO that supports innovation and growth of SMEs. French private investors are eligible to receive significant tax advantages for participating in funds which invest in FCPI qualified companies such as Galapagos.
Innovation-focused mutual funds (FCPI) were created by the French 1997 Finance Act in order to support the development of innovative small firms in France. The Act has since been extended and amended to increase the tax benefits gained from holding FCPI units. FCPI funds are subject to approval and audit by the French financial markets authority AMF. Since its inception in 1997, EUR 4.4 billion has been raised by FCPI funds.
"Following the OSEO's rigorous review process, Galapagos has been recognized as the type of innovative company the French government is looking to support and stimulate," said Onno van de Stolpe, Galapagos' CEO. "We are pleased that the acquisition of our French research center in 2006 has brought this additional benefit to the Galapagos Group. Through this qualification, Galapagos is now eligible for investments by FCPI funds, opening the opportunity to a new category of French institutional investors."
About OSEO
OSEO was created in 2005 by bringing together ANVAR (French Innovation Agency) and BDPME (Development Bank for SMEs). OSEO's mission is to provide assistance and financial support to French SMEs in the most decisive phases of their life cycle: start up, innovation, development, business transfer/buy out. By sharing the risk, OSEO facilitates the access of SMEs to financing by banking partners and equity capital investors. More info at: [ www.oseo.fr ].
About Galapagos
Galapagos (Euronext: GLPG; OTC: GLPYY) is a drug discovery and development company with small molecule programs in bone and joint diseases, bone metastasis, cachexia, anti-infectives and metabolic diseases. It has established risk sharing alliances with GSK, Janssen Pharmaceutica, Eli Lilly and Merck. Through an alliance with MorphoSys, Galapagos is also developing new antibody therapies in bone and joint diseases. Its division BioFocus DPI offers a full suite of target-to-drug discovery products and services to pharmaceutical and biotech companies and to patient foundations, encompassing target discovery and validation, screening and drug discovery through to delivery of pre-clinical candidates. Galapagos currently employs 490 people and operates facilities in six countries, with global headquarters in Mechelen, Belgium. More info at: [ www.glpg.com ].
CONTACT Galapagos NV Elizabeth Goodwin, Director Investor Relations Tel: +31 62 291 6240 [ ir@glpg.com ]
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.
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