Galapagos NV €296.2 Million Follow-On Offering of American Depositary Shares

Davis Polk advised the representatives of the several underwriters in connection with Galapagos NV’s offering of 2,961,373 ordinary shares in the form of American depositary shares, which includes the full exercise of the underwriters’ option to purchase additional ADSs. The offering resulted in gross proceeds to Galapagos of approximately €296.2 million ($345 million). The ADSs are listed on the NASDAQ Global Select Market under the symbol “GLPG.”

Galapagos is a clinical-stage biotechnology company specialized in the discovery and development of small molecule medicines with novel modes of action. The company’s pipeline comprises Phase 3 through to discovery programs in cystic fibrosis, inflammation, fibrosis, osteoarthritis and other indications.

The Davis Polk corporate team included partners Richard D. Truesdell Jr. and Marcel Fausten and associates Andrew J. Terjesen and Amy Mao. The intellectual property and technology team included partner Pritesh P. Shah and associate Jesse L. Hallock. The tax team included counsel Alon Gurfinkel and associate Veronica Orecharova. The environmental team included counsel Loyti Cheng and associate Hilary Smith. Members of the Davis Polk team are based in the New York and London offices.