Following its announcement from Oktober 2023 to take over the filgotinib business from Galapagos NV, Bologna-based Alfasigma SpA has signed the €170m deal.
With the transaction that is expected to close in Q1/2024, Alfasigma will strengthen its pipeline, add a new Phase III programme to expand filgotinib’s label to a third indication. Aditionally, Alfasigma expects to significantly expand its presence in the Northern European markets and will strengthen its presence in Southern Europe through the acquisition.
Under the terms of the agreement, Alfasigma will acquire the entire filgotinib business, including the European and UK marketing authorizations, the commercial, medical affairs and development activities for filgotinib and 400 Galapagos positions in 14 European countries. Galapagos will receive a €50m upfront payment, potential milestone payments totalling €120m and mid-single to mid-double-digit sales-based payments on European sales. Galapagos will contribute up to €40m to Alfasigma by June 2025 for filgotinib-related development activities.
Subject to and as part of the closing, Michele Manto, Galapagos’ former Chief Commercial Officer, will join Alfasigma as Chief Commercial Officer Western Europe.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://european-biotechnology.com/up-to-date/latest-news/news/alfasigma-spa-signs-eur170m-deal-with-galapagos-nv.html