Galapagos Affirms Q4 Guidance, Lowers Full-Year Cash Burn Projections ...
Galapagos said this week that it expects its fourth-quarter 2005 revenues to meet previous guidance of €7.7 million ($9.3 million), and that it expects its full-year cash burn to be lower than its guidance of €7 million.
The Belgian drug discovery company said that the successful integration of product lines from BioFocus, which it acquired in October, plus "financial control measures" enabled it to keep cash burn lower than it had anticipated.
Galapagos, which trades on the Euronext exchange in Brussels and Amsterdam and the London AiM, said it expects revenues for the full year to increase to €11 million, from €7.8 million in 2004.
The company said it plans to publish its full year 2005 results on March 3.
â€¦ and Inks Target-Discovery Deal with Boehringer Ingelheim
Also this week, Galapagos said that its BioFocus service division will use its siRNA-based gene collection to provide Boehringer Ingelheim with novel drug targets.
The three-year deal could be worth more than €2 million ($2.4 million), Galapagos said.
Terms of the collaboration call for BioFocus to expand its SilenceSelect siRNA-based gene collection with an additional gene set, develop a dedicated cellular assay in the field of autoimmune disease, and use this assay to run a target-discovery screen, the company said.
Galapagos will receive upfront fees, as well as research and development funding, and stands to receive milestone fees when certain drug-discovery criteria are met.
Additional terms were not provided.
Report: Rosetta Genomics, Asuragen Ink Deal for Prostate Cancer Dx
Rosetta Genomics and Asuragen have signed a deal to develop three new diagnostic products for prostate cancer, Israel's Globes Online reported today.
The products are expected to be available in 2008, according to the article. A Rosetta Genomics spokeswoman declined to confirm the Globes Online article.
As reported by RNAi News last week, Asuragen founder Matt Winkler said that the companies had formed a collaboration (see RNAi News, 1/12/2006). He declined to specify the nature of the deal at that time, and did not provide additional detail in an e-mail to RNAi News this week.