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Galapagos, Gilead Complete Filgotinib Collaboration

Triggers upfront license fee payment of $300M and equity investment of $425M

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By: Kristin Brooks

Managing Editor, Contract Pharma

Galapagos NV and Gilead Sciences completed the closing and entry into force of their global license and collaboration agreement on filgotinib, triggering an upfront license fee payment of $300 million to Galapagos. Gilead has also made a $425 million equity investment in Galapagos and now owns 14.75% of its currently outstanding share capital.

The companies entered a collaboration for the joint development and commercialization of filgotinib in inflammatory diseases in December 2015. Galapagos co-funds 20% of global development activities and Gilead is responsible for manufacturing and worldwide marketing and sales activities. Galapagos has the option to co-promote filgotinib in the UK, Germany, France, Italy, Spain, Belgium, the Netherlands and Luxembourg, in which case the companies will share profits. Galapagos is entitled to an upfront payment of $725 million, consisting of a license fee of $300 million and a $425 million equity investment. In addition, Galapagos is eligible for payments of as much as $1.35 billion in milestones, with royalties and a profit split in co-promotion territories.

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