Galapagos is seeking $338m via a US public offering to fund Phase III studies for its lead drug filgotinib in various new immunology and inflammation indications. The biotech will also use the cash to prepare for its evolution into a commercial organization in the next few years, when it hopes to start promoting the drug in Europe for the treatment of rheumatoid arthritis. Ultimately it wants to be a major European biotech leader.
Galapagos NV, listed on Nasdaq, has launched a US public offering totaling $338m in gross proceeds that will be used to build up a commercial unit in time for its first drug launch, expected for lead product filgotinib as a treatment for rheumatoid arthritis in the next few years.
The Belgium-based company will also use the cash to fund several new Phase III studies, with its partner Gilead Sciences Inc., in other immunology indications
Private Company Edition: Deerfield’s third innovations fund will back therapeutics and other opportunities, the Gates Foundation – a sometimes funder of biotech firms – will spend $200bn over the next 20 years, and NewLimit raised a $130m series B round, among other financings.
HTX-001 targeting the long non-coding RNA known as Wisper is being developed for non-obstructive hypertrophic cardiomyopathy. HAYA partnered with Lilly last year in obesity.
Houman Ashrafian tells delegates at Swiss Biotech Day that ‘literally only two things matter in our industry – target credentialing and differentiated pharmacology. The rest is execution.’
The sector is continuing to show resilience despite financial and market challenges.
