Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 389

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 16I
Chunk 389
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7,369       69,813  
  Net cash outflow arising on acquisition (2022)                                                                                                                                                                           
  Consideration paid in cash                                                                                                                                               107,750                    14,976               
  Less: cash and cash equivalents balances acquired                                                                                                                       ( 3,179)                  ( 4,279)               
  Cash out from acquisition of subsidiaries, net of cash acquired (paid in 2022)                                                                                           104,571                    10,698      115,270  
  Cash used in operating activities for other liabilities related to the acquisition of subsidiaries (2022)                                                                 28,164                                 28,164  
  Cash out from acquisition of subsidiaries (payment of deferred consideration in 2023)                                                                                      7,000                                  7,000  

29. Details of the NovAlix transaction

We completed the integrated drug discovery collaboration transaction with NovAliX on June 30, 2023, effective as from July 1, 2023. Under the terms of the agreement, our drug discovery and research activities conducted in Romainville, France, and our employees in Romainville, which are exclusively dedicated to the operation of these activities, were transferred to NovAliX who would assume all ongoing research and discovery activities in Romainville, and this forno consideration. In return, we were committed to utilizing the research capabilities and expertise of NovAliX through afive year-collaboration and within the context of the company’s R& D portfolio, resulting in a total commitment of€ 73.8 million on June 30, 2023 (€41.6 million on December 31, 2024).

F-55

Table of Contents

The collaboration agreement and sale and purchase agreement were negotiated as a package with one single commercial objective and with an agreed consideration for the transaction as a whole.
The impact of the transfer of activities and personnel (reference is made to the table below) was treated as an advance for future services to be obtained from NovAliX throughout thefive years collaboration. This advance will gradually be released through profit or loss, in line with the purchase commitment towards NovAliX over thefive year period of the collaboration between us and NovAliX. The part still to be released on December 31, 2024 has been presented in the statement of financial position as other current asset (€ 2.7 million) and other non-current asset (€2.9 million).
December 31,
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