Italy-based Alfasigma has agreed to acquire the Jyseleca (filgotinib) business from Belgian biotech Galapagos for €170 million.
Alfasigma has signed a letter of intent to acquire Jyseleca – a JAK1 preferential inhibitor – from Galapagos for up to €170 million, plus royalties on European sales.
Jyseleca (filgotinib) is an oral once-daily medication, currently approved for two indications: rheumatoid arthritis and ulcerative colitis.
The planned transactions will see Galapagos transfer Jyseleca to Alfasigma, along with European and UK marketing authorisations and associated development activities. Around 400 staff, based in 14 European countries, will also be transferred to Alfasigma.
Under the terms, Alfasigma is to pay Galapagos €50 million upfront, potential milestone payments totalling €120 million and mid-single to mid-double-digit royalties on European sales. Jyseleca’s net sales in Europe totalled €54 million in the first half of 2023.
Galapagos also agreed to pay up to €40 million by June 2025 to Alfasigma for development activities.
Alfasigma said the proposed transaction will strengthen its pipeline, adding a new Phase III programme”
Alfasigma said in a statement the proposed transaction will strengthen its pipeline, “adding a new Phase III programme aiming at expanding Jyseleca’s label to a third indication.”
“The planned transaction…makes a concrete contribution to our company’s growth strategy, consolidating and expanding our presence in several European markets,” commented Stefano Golinelli, Chairman of Alfasigma.
“Additionally, the acquisition of Jyseleca will further build our gastrointestinal portfolio while giving us access to the rheumatology market.”
Dr Paul Stoffels, CEO and Chairman of Galapagos said the planned transaction is expected to “free-up significant resources across the organisation, enabling us to invest more in our R&D growth areas, business development and M&A”.
Galapagos also announced plans to streamline its remaining operations, with an expected reduction of around 100 positions across the organisation. Galapagos estimates this will save €150-200 million annually.
Approved indications for Jyseleca
Jyseleca is marketed in Europe and Japan for the treatment of adults with moderate to severe active RA who have responded inadequately or are intolerant to one or more disease modifying anti-rheumatic drugs. The European Medicines Agency’s (EMA) human medicines committee (CHMP) adopted a positive opinion for Jyseleca for RA in July 2020.
The JAK1 inhibitor is also marketed in Europe and Japan for the treatment of adult patients with moderate to severe active ulcerative colitis (UC) who have had an inadequate response with, lost response to, or were intolerant to either conventional therapy or a biologic agent.
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