January 2024
Financial Adviser
€170 million
Sale of Jyseleca business to Alfasigma
Galapagos
Financial Adviser
Van Lanschot Kempen acted as Financial Adviser to Galapagos in the sale of its Jyseleca business to Alfasigma
Transaction highlights
- Galapagos closed the sale of its Jyseleca business to Alfasigma, including the European and UK Marketing Authorizations, the commercial, medical and development activities as well as approximately 400 positions in 14 European countries, for a total consideration of €170 million (€50 million upfront and €120 million in potential milestone payments) plus mid-single to mid-double-digit royalties on European sales
- The sale of Jyseleca is expected to free up significant resources for Galapagos, enabling the company to invest more in R&D, business development and M&A and to accelerate its transformation into a global innovative biotech company with a pipeline of best-in-class medicines in oncology and immunology
- Van Lanschot Kempen was instrumental in finding the right buyer for Jyseleca through its extensive network. A tightly run process was set up with several phases, allowing for the selection of the best possible buyer in just over two months' time, with Alfasigma emerging as the ideal new home for the asset and the employees
- This transaction further builds on Van Lanschot Kempen's decade-long strong relationship with Galapagos, starting with leading Galapagos’ Euronext IPO in May 2005 and assisting in several follow-on as well as M&A transactions thereafter, including the divestment of its CRO business Fidelta in Croatia in 2021
Company description
Galapagos is a global biotechnology company with operations in Europe and the US dedicated to developing transformational medicines for more years of life and quality of life. Focusing on high unmet medical needs, Galapagos synergises the most compelling science, technology, and collaborative approaches to create a deep pipeline of best-in-class small molecules, CAR-T therapies, and biologics in oncology and immunology. With capabilities from lab to patient, including a decentralized, point-of-care CAR-T manufacturing network, Galapagos is committed to challenging the status quo and delivering results for its patients, employees and shareholders.
Background Van Lanschot Kempen Life Sciences & Healthcare
In the last twelve months, Van Lanschot Kempen has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:
- Sole Financial Adviser to Zealand Pharma in securing a €90 million venture debt facility from the European Investment Bank
- Joint Global Coordinator & Joint Bookrunner in the SEK 59 million Capital Increase by Cantargia
- Joint Global Coordinator and Joint Bookrunner in Cantargia's directed share issue
- Joint Global Coordinator & Joint Bookrunner in the NOK 505 million Capital Increase by Nykode Therapeutics
- Sole Financial Adviser in the SEK 120 million Structured Equity transaction by SynAct Pharma
- Lead Manager in the USD 1.3 billion Capital Increase by argenx
- Joint Bookrunner in the SEK 500m Capital Increase by Vicore Pharma
- Financial Adviser to NewAmsterdam Pharma in the USD 182 million secondary sell-down by existing investors
- Joint Global Coordinator & Joint Bookrunner in the EUR 25 million Capital Increase by Vivoryon Therapeutics
- Joint Global Coordinator & Joint Bookrunner in the EUR 16 million Capital Increase by Sequana Medical
- Lead Manager in the DKK 1.5 billion Capital Increase by Zealand Pharma
- Capital Markets Advisor & Placement Agent in the Merger between European Biotech Acquisition Corp. and Oculis SA and the connected USD 91 million PIPE
- Lead Manager in the USD 250 million Capital Increase by CureVac
- Sole Financial Adviser to GenSight Biologics in securing a EUR 12 million Credit Facility from Heights Capital Management
- Joint Global Coordinator and Joint Bookrunner in the SEK 416 million Capital Increase by Hansa Biopharma
- Sole Financial Adviser in SynAct Pharma’s acquisition of TXP Pharma and Joint Global Coordinator & Joint Bookrunner in SynAct Pharma’s SEK 80 million PIPE
- Joint Bookrunner in the SEK 200 million Capital Increase by Vicore Pharma
- Joint Global Bookrunner in the SEK 148 million Fully Guaranteed Rights Issue by Biovica