Galapagos and Gilead global collaboration for filgotinib finalized
Belgium-based biotech firm Galapagos (Euronext: GLPG) and Gilead Sciences (Nasdaq: GILD) have announced the closing and entry into force of their global license and collaboration agreement on filgotinib.
Under the terms of the agreement last month (The Pharma Letter December 17, 2015), the closing of this transaction triggers an upfront license fee payment of $300 million by Gilead to Galapagos. In addition, Gilead has made a $425 million (or 392 million euros) equity investment in Galapagos by subscribing for new shares at a price of 58 euros per share, including issuance premium. As a result, Gilead now owns 6,760,701 ordinary shares of Galapagos, representing 14.75% of the currently outstanding share capital of Galapagos.
Terms of the collaboration
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