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Gilead has increased its stake in Galapagos to 45,837,043 shares or 14.75%, crossing a 10% threshold of GLPG's voting rights

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Pursuant to Belgian transparency legislation, Galapagos NV ("Galapagos") and Gilead Sciences, Inc. ("Gilead") have filed a joint transparency notification on 22 January 2016. The transparency notification announces that Gilead, as a result of its entirely-controlled subsidiary Gilead Biopharmaceutics Ireland Unlimited Company subscribing to a capital increase and thus receiving 6,760,701 new Galapagos shares on 19 January 2016, indirectly holds 14.75% of the current 45,837,043 outstanding Galapagos shares. Gilead therefore crossed a 10% threshold of Galapagos' voting rights on 19 January 2016. Furthermore, Galapagos and Gilead are acting in concert as a result of standstill and lock-up provisions with respect to Galapagos shares held by Gilead contained in their global collaboration agreement for the development and commercialization of the JAK1-selective inhibitor filgotinib.
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Occurred on:
Jan 25, 2016
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Related Keywords Global Collaboration Agreement, Filgotinib, Development, Commercialization