Galapagos earns milestone from AbbVie

• Galapagos NV (OTC:GLPGF) (OTCPK:GLPYY) initiates the first Phase 1 trial with GLPG1837, its investigational CFTR targeted therapy for patients with cystic fibrosis who carry class III/IV mutations. The Belgium-based study will enroll 40 healthy volunteers and will evaluate the safety, tolerability and pharmacokinetics of oral single and multiple ascending doses of GLPG1837. Results are expected in H2 2015.
• The start of the trial triggers a $10M milestone payment from AbbVie (NYSE:ABBV).