Galapagos

NEW YORK (GenomeWeb News) – Charles River Laboratories has signed a definitive agreement to purchase Galapagos' BioFocus and Argenta service division operations for a total consideration of €134 million ($187 million), the companies announced today.

The extension calls for the use of BioFocus' target discovery platform to deliver novel targets in support of Amgen's therapeutic programs.

BioFocus will provide Genentech with integrated medicinal chemistry, in vitro biology, and ADME services.

The two-year extension could bring in $8.6 million for Galapagos.

Following today's capital increase, the company has a share capital of more than €129 million with a total of almost 24 million shares outstanding.

Galapagos expects its drug discovery services operations to bring in around €70 million in 2010 revenues.

The new open access genomics-based small molecule database is hosted by the European Bioinformatics Institute.

The Belgian drug development and drug screening services firm has placed more than 2.1 million shares with institutional investors.

Galapagos will add atherosclerosis targets to others it is attempting to discover and validate for Merck.

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