FOSTER CITY (dpa-AFX) - Galapagos NV (GLPG) and Gilead Sciences, Inc. (GILD) announced the closing and entry into force of their global license and collaboration agreement on filgotinib. The closing of the deal triggers an upfront license fee payment of $300 million by Gilead to Galapagos. In addition, Gilead has made a $425 million equity investment in Galapagos by subscribing for new shares. As a result, Gilead now owns 6,760,701 ordinary shares of Galapagos, representing 14.75 percent of the currently outstanding share capital of Galapagos.
Galapagos and Gilead entered into a collaboration for the global development and commercialization of filgotinib in inflammatory diseases in December 2015.
Copyright RTT News/dpa-AFX
© 2016 AFX News
