Belgian biotech company Galapagos NV has filed for a U.S. IPO. The company plans on listing the stock on the NASDAQ under the ticker symbol “GLPG.” Morgan Stanley, Credit Suisse and Cowen and Company are serving as lead underwriters for the U.S. IPO. The company currently trades its shares on the Euronext Amsterdam and Euronext Brussels under the ticker symbol “GLPG.” Galapagos’ backers include Johnson & Johnson, Van Herk Investments and The Capital Group Companies.
Mechelen, Belgium; 15 April 2015 – Galapagos NV (Euronext: GLPG) announced today that it filed a Registration Statement on Form F-1 with the U.S. Securities and Exchange Commission for a proposed global offering of ordinary shares, including ordinary shares in the form of American Depositary Shares (“ADSs”). Galapagos’ ordinary shares are currently listed on Euronext Amsterdam and Euronext Brussels.
Application has been made to list the ADSs to be offered in the global offering on the NASDAQ Stock Market in the United States under the symbol “GLPG.” Within the framework of the contemplated transaction, Galapagos expects to offer ordinary shares in Europe and countries outside of the United States and Canada in a concurrent private placement. Investors other than qualified investors under applicable law will not be eligible to participate in this possible private placement.
Morgan Stanley, Credit Suisse, and Cowen and Company are acting as joint book-running managers, and Nomura and Bryan, Garnier & Co. are acting as co-managers, for the proposed global offering.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. The securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
The securities referred to in this release are to be offered only by means of a prospectus. A copy of the preliminary prospectus, when available, can be obtained from Morgan Stanley& Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, United States, Attention: Prospectus Department; Credit Suisse Securities (USA) LLC, One Madison Avenue, New York, NY 10010, United States, Attention: Prospectus Department, or by telephone at +1 (800) 221-1037, or by email at firstname.lastname@example.org; or Cowen and Company, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, United States, Attn.: Prospectus Department or by calling +1 (631) 274 2806.
This press release does not constitute an offer to sell nor a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Galapagos (Euronext: GLPG; OTC: GLPYY) is a clinical-stage biotechnology company specialized in the discovery and development of small molecule medicines with novel modes of action, with a pipeline comprising three Phase 2 programs, two Phase 1 trials, five pre-clinical studies, and 20 discovery small-molecule and antibody programs in cystic fibrosis, inflammation, and other indications. In the field of inflammation, AbbVie and Galapagos signed a collaboration agreement for the development and commercialization of filgotinib. Filgotinib is an orally-available, selective inhibitor of JAK1 for the treatment of rheumatoid arthritis and potentially other inflammatory diseases, currently in Phase 2B studies in RA and in Phase 2 in Crohn’s disease. AbbVie and Galapagos also signed a collaboration agreement in cystic fibrosis to develop and commercialize molecules that address mutations in the CFTR gene. Potentiator GLPG1837 is currently in a Phase 1 trial, and corrector GLPG2222 is at the pre-clinical candidate stage. GLPG1205, a first-in-class inhibitor of GPR84 and fully-owned by Galapagos, is currently being tested in a Phase 2 proof-of concept trial in ulcerative colitis patients. GLPG1690, a fully proprietary, first-in-class inhibitor of autotaxin, has shown favorable safety in a Phase 1 trial and is expected to enter Phase 2 in idiopathic pulmonary fibrosis. The Galapagos Group, including fee-for-service subsidiary Fidelta, has approximately 400 employees, operating from its Mechelen, Belgium headquarters and facilities in The Netherlands, France, and Croatia.