Brief: Galapagos To Transfer Jyseleca Business To Alfasigma

Lakefront Biotherapeutics NV

02/01/2024 06:04

Jan 2 (Reuters) - Galapagos NV  GLPG.AS :
    * GALAPAGOS SIGNS AGREEMENT TO TRANSFER JYSELECA® BUSINESS
TO
ALFASIGMA
    * TRANSACTION EXPECTED TO CLOSE IN Q1 OF 2024, SUBJECT TO
CUSTOMARY CLOSING CONDITIONS
    * MICHELE MANTO, GALAPAGOS' CHIEF COMMERCIAL OFFICER, TO
JOIN
ALFASIGMA
    * IN CONNECTION WITH TRANSACTION, GALAPAGOS EXPECTS TO
REALIZE
SUBSTANTIAL SAVINGS RANGING BETWEEN EUR 150 MILLION AND EUR 200
MILLION
    * GALAPAGOS PLANS TO INVEST IN LICENSING AND ACQUISITION
OPPORTUNITIES RANGING FROM LATE PRECLINICAL TO MID-STAGE
CLINICAL ASSETS IN ITS STRATEGIC THERAPEUTIC AREAS TO DRIVE
VALUE ACROSS ITS PIPELINE
    * WILL CONTRIBUTE UP TO EUR 40 MILLION TO ALFASIGMA BY JUNE
2025
FOR JYSELECA RELATED DEVELOPMENT ACTIVITIES
    * WILL RECEIVE A EUR 50 MILLION UPFRONT PAYMENT, POTENTIAL
SALES-BASED MILESTONE PAYMENTS TOTALING EUR 120 MILLION AND
MID-SINGLE TO MID-DOUBLE-DIGIT ROYALTIES ON EUROPEAN SALES

Source text for Eikon:  ID:nGNX2kkT0F 
Further company coverage:  GLPG.AS 

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