Gilead announced yesterday, after trading had closed, that its investigational therapy Filgotinib (JAK-1 inhibitor), developed and licensed by Belgian biotech Galapagos, has reached all its primary and secondary endpoints in the early stages of the Phase III clinical trial Fitch-2. 300 patients with rheumatoid arthritis were enrolled and administered Filgotinib (100 and 200mg) for 24 weeks, vs placebo.
Galapagos licensed Filgotinib to Gilead in December 2015, in return for $725m (lock-in), plus $700m in equity investment. Additionally, Galapagos could be eligible to receive an additional $755m subject to achievement of precise technical milestones, plus $600m upon completion of commercial milestones. Finally, Galapagos is entitled to 20% to 30% royalties on sales.
Gilead’s shares rose more than 4.3% in pre-market trading today (Wall Street).