On 14 July 2019, the American biopharmaceutical company Gilead entered into a ten-year worldwide R&D collaboration with Galapagos.
Gilead is investing $3.95 billion in the Belgian biopharmaceutical company in order to expand and accelerate its R&D programmes. In return, Gilead will receive an exclusive product licence and option rights to develop and commercialise all Galapagos' current and future programmes in all countries outside Europe.
In addition, Gilead is investing $1.1 billion in shares, increasing its stake in Galapagos from 12.3% to 22.1%. Over time, Gilead may further increase its stake to up to 29.9%.
Skadden, Arps, Slate, Meagher & Flom LLP, Covington & Burling LLP and Eubelius assisted Gilead in the global transaction. The Eubelius team, which included Marieke Wyckaert, Joris De Wolf and Bert Antonissen, assisted Gilead with the Belgian aspects of the transaction.
For more information, see the Gilead press release.