Lakefront Biotherapeutics NV

Lakefront Biotherapeutics NV is a biopharmaceutical company focused on the development and commercialization of therapeutic products. The company's business operations include a collaboration with Gilead Sciences, particularly concerning the drug filgotinib. Initially, Lakefront Biotherapeutics NV and Gilead co-commercialized filgotinib in France, Germany, Italy, Spain, and the United Kingdom, sharing profits equally. They also shared future global development costs for filgotinib equally until a predetermined level. In December 2020, the agreement was amended. Lakefront Biotherapeutics NV assumed all development, manufacturing, commercialization, and certain other rights for filgotinib in Europe. Most of these activities were transferred by December 31, 2021, with the full transition completed by December 31, 2022. Gilead retains commercial rights and remains the marketing authorization holder for filgotinib outside of Europe, including in Japan. All commercial economics for filgotinib in Europe transferred to Lakefront Biotherapeutics NV as of January 1, 2022, subject to tiered royalties of 8 to 15 percent of net sales in Europe payable to Gilead, starting in 2024. Since January 1, 2021, Lakefront Biotherapeutics NV has borne future development costs for specific studies, including DARWIN3, FINCH4, FILOSOPHY, and Phase 4 studies and registries in RA; MANTA and MANTA-RAy; PENGUIN1 and 2 and EQUATOR2 studies in PsA; SEALION1 and 2 studies in AS; and the HUMBOLDT study in uveitis, along with other clinical and non-clinical expenses. The 50/50 global development cost-sharing arrangement with Gilead continues for studies such as SELECTION and its long-term extension study (LTE) in UC; DIVERSITY and its LTE; DIVERGENCE 1 and 2 and their LTEs; Phase 4 studies and registries in Crohn's disease; and pediatric studies and their LTEs in RA, UC, and Crohn's disease.