Apax Partners has sold its 5.4% stake in Belgium-based biotech company Galapagos NV (Euronext: GLGP), via a private placement to undisclosed investors.
Galapagos NV (Euronext: GLPG) announced that Kempen and Co. placed nearly 1.3 million Galapagos shares (5.4% of total outstanding shares) through an accelerated bookbuilding today. These shares were held by Apax, who obtained their position in Galapagos through the venture capital financing round in 2002. The shares were placed with European institutional investors.
“I am very pleased that there is so much institutional investor interest in Galapagos and that this placement could be executed in only a couple of hours. We thank Apax for their support as a shareholder over the past eight years and welcome the new shareholders,” said Onno van de Stolpe, CEO of Galapagos.
Galapagos (Euronext: GLPG; OTC: GLPYY) is a mid-size biotechnology company specialized in the discovery and development of small molecule and antibody therapies with novel modes-of-action. The Company is progressing one of the largest pipelines in biotech, with four clinical and over 50 small molecule discovery/pre-clinical programs. Through risk/reward- sharing alliances with GlaxoSmithKline, Eli Lilly, Janssen Pharmaceutica, Merck & Co. and Roche, Galapagos is eligible to receive up to EUR3 billion in downstream milestones, plus royalties. Together with its BioFocus and Argenta service operations, Galapagos has over 670 employees and operates facilities in six countries, with global headquarters in Mechelen, Belgium. More info at: www.glpg.com