Galapagos, Gilead Cleared FTC to Close Global Partnership on Filgotinib

Galapagos NV (NASDAQ: GLPG) and Gilead Sciences, Inc. (NASDAQ: GILD) announced today that the U.S. Federal Trade Commission ("FTC") provided early termination of the waiting period for their global partnership agreement on filgotinib under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The deal is expected to close by the end of the month. Upon closing, Galapagos will receive an upfront license fee of $300 million and Gilead will make a $425 million equity investment in Galapagos by subscribing for shares at a price of €58 per share. After the issuance of the shares, Gilead will own approximately 15 percent of the outstanding share capital of Galapagos, depending on the $/€ exchange rate at closing. About Galapagos Galapagos (Euronext & NASDAQ: GLPG) is a clinical-stage biotechnology company specialized in the discovery and development of small molecule medicines with novel modes of action. Our pipeline comprises three Phase 2, four Phase 1, five pre-clinical, and 20 discovery studies in cystic fibrosis, inflammation, fibrosis, osteoarthritis and other indications. We have discovered and developed filgotinib: in partnership with Gilead we aim to bring this JAK1-selective inhibitor for inflammatory indications to patients all See full press release