Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 343

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 16I
Chunk 343
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ad:
December 31,
2022
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(Euro, in thousands)
Upfront consideration € 4,018,016 4,018,016 4,018,016
Milestones achieved 212,601 212,601 212,601
Royalties 30,710 9,466 40,176 10,604 50,780
Impact initial valuation of share subscription 124,604 124,604 124,604
4,385,931 9,466 4,395,397 10,604 4,406,001
Less:
Warrants issuance liabilities
Warrant A ( 43,311) ( 43,311) ( 43,311)
Initial Warrant B ( 2,545) ( 2,545) ( 2,545)
Subsequent Warrant B ( 728) 674 ( 54) 45 ( 9)
4,339,347 10,140 4,349,487 10,649 4,360,136
Allocation to performance obligations
Ziritaxestat 666,967 666,967 666,967
Filgotinib (1) 1,372,178 9,466 1,381,644 10,604 1,392,248
Drug discovery platform (10 years) € 2,300,203 674 2,300,876 45 2,300,921
(1) With regard to the additional consideration received as a result of the Option, License and Collaboration agreement (July 14, 2019) allocated to the filgotinib performance obligation, we assumed the existence of a significant financing component estimated to €44.5million as of December 31, 2019 reflecting the time value of money on the estimated recognition period. This financing component was reassessed to €58.7million on December 31, 2022, to €39.8million on December 31, 2023 and to €39.3million on January 31, 2024, the date of the transfer of the contract to Alfasigma.
CLINICAL COLLABORATION AGREEMENT WITH ADAPTIMMUNE
On May 30, 2024, we entered into a clinical collaboration agreement with an option to exclusively license Adaptimmune’s next-generation