Galapagos Eyes Rare European Biotech Heavyweight Title, Launches $338m Offering

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.