Galapagos finds new filgotinib partner in Gilead

Gilead Sciences Inc. (NASDAQ:GILD) and Galapagos N.V. (Euronext:GLPG; NASDAQ:GLPG) entered a global co-development and co-commercialization deal for filgotinib ( GLPG0634) to treat inflammatory diseases. The partners hope to begin Phase III studies next year of the Janus kinase-1 (JAK-1) inhibitor to treat rheumatoid arthritis and Crohn's disease.

Galapagos received $725 million up front, including a $425 million equity investment that will give Gilead about 15% of its equity. Galapagos is also eligible for $1.35 billion in milestones, plus royalties. ...