Shots:

• Galapagos to receive $3.95B upfront and $1.1B equity investment. Gilead to get rights of Galapagos’ GLPG1690 for IPF- option rights of GLPG1972 for OA in the US and option rights of all Galapagos’ current and future clinical programs (Ex-EU)
• Gilead has an option for GLPG1972 and will pay $250M license fee- $200M post to 2EPs meet with up to $550M as regulatory & commercial milestones. Additionally- will pay $325M milestones post GLPG1690 approval to Galapagos in the US
• Galapagos to receive $150M option payment/program with royalties from 20-24% on sales of all Galapagos’ clinical program including 6 in clinical-stage & 20+ preclinical program and drug discovery platform. Gilead’s equity investment will consist of $158.61/Galapagos share representing 30 day premium of 20% and will increase Gilead’s stake from 12.3% to 22%. The transaction is expected to close in Q3’19
• Additionally- the companies amended their 2015 agreement which provides Galapagos exclusive rights of filgotinib in Belgium- the Netherlands and Luxembourg with equal sharing in development cost globally- in lieu of the 80/20 cost split provided by the 2015 agreement

Click here to read full press release/ article | Ref: Gilead | Image: Gilead