Galapagos and Gilead Complete Closing of their Global Collaboration for Filgotinib
News Jan 21, 2016
Galapagos NV and Gilead Sciences, Inc. have announced the closing and entry into force of their global license and collaboration agreement on filgotinib.
Under the terms of the agreement, 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) equity investment in Galapagos by subscribing for new shares at a price of €58 per share, including issuance premium. 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.
In accordance with Belgian transparency legislation, Galapagos notes that its total share capital currently amounts to €247,964,249.63; the total number of securities conferring voting rights is 45,837,043, which is also the total number of voting rights (the “denominator”), and all securities conferring voting rights and all voting rights are of the same category.
The total number of rights (warrants) to subscribe to not yet issued securities conferring voting rights is 2,800,692, which equals the total number of voting rights that may result from the exercise of these warrants (but excludes the 700,000 warrants of Warrant Plan 2015 (B) and Warrant Plan 2015 RMV which were created on 21 December 2015, subject to acceptances). Galapagos does not have any convertible bonds or shares without voting rights outstanding.