Alfasigma, a global pharmaceutical company headquartered in Italy, has signed a letter of intent to acquire the Jyseleca business from Galapagos, a global biotechnology company headquartered in Belgium, developing transformational medicines in immunology and oncology.
As part of the planned transaction, Galapagos will transfer Jyseleca’s (filgotinib) business to Alfasigma, including the marketing authorizations in Europe and the UK, and associated commercial, medical and development activities.
Jyseleca is an oral once-daily JAK1 preferential inhibitor, a new class of drugs with innovative action mechanism and two approved indications: Rheumatoid Arthritis (launched in 2020) and Ulcerative Colitis (launched in 2021). Alfasigma will bring approximately 400 employees into its Group across 14 European countries with strong specialist and managerial skills in areas such as R&D, Medical Affairs, Market Access, Marketing and Sales.
The contemplated transaction will enable Alfasigma to add an innovative and specialty product to its portfolio. In addition, the transaction will strengthen Alfasigma’s pipeline, adding a new Phase 3 program aiming at expanding Jyseleca’s label to a third indication. Overall, this transaction will be a key step to build on Alfasigma’s strategy and further support its growth aspirations.
With this planned transaction, Alfasigma expects to significantly expand its presence in the Northern European markets (Germany, UK & Ireland, Austria, Belgium, Netherlands, Denmark, Sweden, Norway, and Finland), where most of Jyseleca’s sales are concentrated. In addition, the Group will strengthen its presence in Southern Europe (Italy, Spain, and France), where Alfasigma already has a significant presence.
Stefano Golinelli, Chairman of Alfasigma, said: “The planned transaction announced today makes a concrete contribution to our company’s growth strategy, consolidating and expanding our presence in several European markets. Additionally, the acquisition of Jyseleca will further build our gastrointestinal portfolio while giving us access to the rheumatology market.”
Francesco Balestrieri, CEO of Alfasigma, added: “We are very pleased to have signed a letter of intent with Galapagos and are excited to acquire the Jyseleca business. This transaction is an important development opportunity for both companies and represents another milestone in our journey of transformation and international growth, fitting into the core business areas of our company.
“We are delighted to welcome Galapagos’ Jyseleca team into Alfasigma following completion of the process and look forward to working together to continue our path of innovation.”
Dr. Paul Stoffels, CEO and Chairman of Galapagos, added: “We believe that the contemplated transaction with Alfasigma is the best possible outcome for our employees, patients, prescribers, our other stakeholders and Jyseleca. I want to recognize the tremendous efforts and valuable contributions of our talented teams to successfully bring Jyseleca to many patients across Europe. I am confident that they can thrive within Alfasigma.”
Alfasigma would acquire the Jyseleca business from Galapagos for €50 million upfront, potential milestone payments totaling €120 million and mid-single to mid-double digit royalties on European sales. Galapagos is to pay up to €40 million by June 2025 to Alfasigma for Jyseleca related development activities.
