Transformational multi-billion dollar collaboration with Gilead to create a global R&D leader based in Europe
Today, Galapagos announces transformational multi-billion dollar collaboration with Gilead to create a global R&D leader based in Europe, developing and commercialising breakthrough therapies to patients. Please see the press releases https://www.glpg.com/press-releases
- Multi-billion dollar collaboration is one of the largest ever biotech deals in Europe - $3.95 billion upfront payment, a $1.1bn equity investment by GILD, $1.1bn additional opt-in payments for two late stage products, as well as additional milestones to access early pipeline assets, and double digit royalties.
- Creates a global R&D leader - Collaboration will accelerate GLPG’s vision to become a top 10 global biotech company and establish global leadership in inflammation & immunology. GLPG’s enhanced financial strength will enable it to increase investment into R&D to expedite development timelines for new and existing pipeline programmes. Under the collaboration, GLGP gains broader commercialisation rights in Europe for Filgotinib; it plans to establish a European commercial infrastructure to commercialise Filgotinib and retains European rights to current and future pipeline products.
- GLPG retains its independence which nurtures its R&D culture and maintains the entrepreneurial spirit that has driven its successes to date, whilst strengthening its relationship with GILD, a committed partner with proven development and commercial capabilities globally, resulting in multiple blockbusters.
- Galapagos expands EU co-commercialization rights for filgotinib and plans to accelerate the build up of its commercial franchise in Europe. Increased responsibility with filgotinib in France, Italy, Spain, Germany and United Kingdom combined with full rights in the Netherlands, Belgium & Luxembourg enables GLPG to build up a significant commercial infrastructure starting with 40 jobs in the commercial division. Galapagos has over 700 employees in Belgium, The Netherlands, France, Switzerland and Croatia, with a small team in Boston, US.
- Galapagos celebrates its 20-year anniversary and the success of one of Europe’s longest serving biotech CEOs