Galapagos Announces Closing Of NASDAQ IPO

Published: May 20, 2015

Mechelen, Belgium; 19 May 2015 - Galapagos NV (Euronext & NASDAQ: GLPG) announced today the closing of its global offering of 7,532,499 ordinary shares, consisting of an underwritten public offering of 5,746,000 American Depositary Shares ("ADSs"), at a price of $42.05 per ADS, before underwriting discounts, and a concurrent European private placement of 1,786,499 ordinary shares at a price of €37.00 per share, before underwriting discounts, for gross proceeds of approximately €278.7 million ($316.7 million). This includes the full exercise of the underwriters' greenshoe option to purchase additional shares. All of the ordinary shares and the ADSs were offered by Galapagos.

Each of the ADSs offered represents the right to receive one ordinary share.

Galapagos' ordinary shares are listed on Euronext Amsterdam and Euronext Brussels under the symbol "GLPG." The ADSs are listed on the NASDAQ Global Select Market under the symbol "GLPG."

Morgan Stanley, Credit Suisse and Cowen and Company acted as joint book-running managers, and Nomura and Bryan, Garnier & Co. acted as co-managers, for the global offering.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on 13 May 2015.

Copies of the final prospectus for this offering may be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, United States, Attention: Prospectus Department; Credit Suisse Securities (USA) LLC, One Madison Avenue, New York, NY, 10010, United States, Attention: Prospectus Department, or by telephone at +1 (800) 221-1037, or by email at; or Cowen and Company, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, United States, Attn.: Prospectus Department or by calling +1 (631) 274 2806.

This press release does not constitute an offer to sell nor a solicitation of an offer to buy, nor shall there be any sale of securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Galapagos

Galapagos (Euronext & NASDAQ: GLPG) is a clinical-stage biotechnology company specialized in the discovery and development of small molecule medicines with novel modes of action, with a pipeline comprising three Phase 2 programs, two Phase 1 trials, five pre-clinical studies, and 20 discovery small-molecule and antibody programs in cystic fibrosis, inflammation, and other indications. In the field of inflammation, AbbVie and Galapagos signed a collaboration agreement for the development and commercialization of filgotinib. Filgotinib is an orally-available, selective inhibitor of JAK1 for the treatment of rheumatoid arthritis and potentially other inflammatory diseases, currently in Phase 2B studies in RA and in Phase 2 in Crohn's disease. Galapagos reported good activity and a favorable safety profile at 12 weeks in both the DARWIN 1 and 2 trials in RA. AbbVie and Galapagos also signed a collaboration agreement in cystic fibrosis to develop and commercialize molecules that address mutations in the CFTR gene. Potentiator GLPG1837 is currently in a Phase 1 trial, and corrector GLPG2222 is at the pre-clinical candidate stage. GLPG1205, a first-in-class inhibitor of GPR84 and fully-owned by Galapagos, is currently being tested in a Phase 2 proof-of-concept trial in ulcerative colitis patients. GLPG1690, a fully proprietary, first-in-class inhibitor of autotaxin, has shown favorable safety in a Phase 1 trial and is expected to enter Phase 2 in idiopathic pulmonary fibrosis. The Galapagos Group, including fee-for-service subsidiary Fidelta, has approximately 400 employees, operating from its Mechelen, Belgium headquarters and facilities in The Netherlands, France, and Croatia.

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