LONDON--(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
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
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