Citi Appointed Successor Depositary Bank for Galapagos’ ADR Programme
May 05 2015 - 4:18AM
Business Wire
Citi’s Issuer Services business, acting through Citibank N.A.,
has been appointed by Galapagos NV (“Galapagos”), a leading
clinical stage biotech company focused on developing novel mode of
action medicines, as the successor depositary bank for its
Level 1 American Depositary Receipt (ADR) programme. Galapagos’ ADR
programme currently trades in the over-the-counter (“OTC”) market
under the symbol “GLPYY”, with each ordinary share equivalent to
one (1) ADR. Galapagos’ ordinary shares are also listed and trade
on the Euronext Brussels and Amsterdam Stock Exchanges under the
symbol “GLPG.”
This transition is designed to be entirely seamless to
Galapagos’ ADR holders who need take no action whatsoever in
connection with it.
“Citi is delighted to be appointed by Galapagos as successor
depositary bank for its Level 1 ADR programme”, said Dirk Jones,
Global Head of Issuer Services, at Citi. “Leveraging Citi’s
unmatched global equity distribution network, we look forward to
working closely with Galapagos on providing incremental investor
access and servicing their existing ADR holders.”
For more information on Citi’s Depositary Receipt Services,
visit www.citi.com/dr.
NOTES TO EDITORS
About Galapagos
Galapagos (Euronext: GLPG; OTC:
GLPYY) is a clinical-stage biotechnology company specialized in the
discovery and development of small molecule medicines with novel
modes of action, with a pipeline comprising three Phase 2 programs,
two Phase 1 trials, five pre-clinical studies, and 25 discovery
small-molecule and antibody programs in cystic fibrosis,
inflammation, and other indications. In the field of inflammation,
AbbVie and Galapagos signed a collaboration agreement for the
development and commercialization of filgotinib. Filgotinib 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 in Phase 2 in Crohn’s disease. Galapagos
reported good activity and a favorable safety profile at 12 weeks
in both the DARWIN 1 and 2 trials in RA. AbbVie and Galapagos also
signed a collaboration agreement in cystic fibrosis to develop and
commercialize molecules that address mutations in the CFTR gene.
Potentiator GLPG1837 is currently in a
Phase 1 trial, and corrector GLPG2222 is at the pre-clinical
candidate stage. GLPG1205, a
first-in-class inhibitor of GPR84 and fully-owned by Galapagos, is
currently being tested in a Phase 2 proof-of-concept trial in
ulcerative colitis patients. GLPG1690,
a fully proprietary, first-in-class inhibitor of autotaxin, has
shown favorable safety in a Phase 1 trial and is expected to enter
Phase 2 in idiopathic pulmonary fibrosis. The Galapagos Group,
including fee-for-service subsidiary Fidelta, has approximately 400
employees, operating from its Mechelen, Belgium headquarters and
facilities in The Netherlands, France, and Croatia. Further
information at: www.glpg.com
About Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn:
www.linkedin.com/company/citi
Citi Media Contacts:Capucine Boncenne+44 (0) 20 7508
9355capucine.boncenne@citi.comorGalapagos Investor
enquiries:Elizabeth Goodwin+31 622916240ir@glpg.com
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