Alfasigma has signed an agreement with Galapagos to acquire the Jyseleca (filgotinib) business for up to €170 million. The agreement follows the signing of a Letter of Intent announced on 30 October and marks a significant milestone in Alfasigma’s ongoing growth strategy.
With this transaction, Alfasigma will add an innovative and specialised product to its portfolio and significantly strengthens its pipeline, adding a new Phase 3 program aimed at expanding Jyseleca’s label to a third indication. Furthermore, Alfasigma expects to significantly expand its presence in the Northern European markets whilst strengthening its presence in Southern Europe through this acquisition.
Under the terms of the agreement, Alfasigma will acquire the entire Jyseleca business, including the European and UK Marketing Authorizations, the commercial, medical affairs and development activities for Jyseleca and approximately 400 Galapagos positions in 14 European countries.
Galapagos will receive a €50 million upfront payment, potential milestone payments totalling €120 million and mid-single to mid-double-digit sales-based payments on European sales. Galapagos will contribute up to €40 million to Alfasigma by June 2025 for Jyseleca related development activities.
In addition, subject to and as part of the closing, Michele Manto, Galapagos’ former Chief Commercial Officer, will join Alfasigma as Chief Commercial Officer Western Europe.
The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2024.
Stefano Golinelli, Chairman of Alfasigma, said: “With the acquisition of Galapagos’ Jyseleca business, Alfasigma strategically strengthens its position in the pharmaceutical sector, unlocking new avenues for growth and innovation.
“This deal marks an important step in our ongoing growth strategy, allowing us to enhance our portfolio in the gastrointestinal and rheumatological areas for the benefit of our patients.”
Francesco Balestrieri, CEO of Alfasigma, said: “This deal aligns with our commitment to advancing healthcare solutions, expanding our product portfolio, and solidifying our international presence. As we finalise the deal with Galapagos, we are ready to leverage our expertise to drive the success of Jyseleca.
“Our focus now is to integrate the commercial, medical affairs, and development activities into our group’s wider framework, while preserving the business’s distinctive characteristics. This project also underscores our dedication to innovation bringing on board a robust Phase 3 programme, aimed at expanding Jyseleca’s label to a third indication and further contributing to our growth as a company.”
