Galapagos Announces Intention to Wind Down Cell Therapy Business

Galapagos NV has announced its intention to wind down its cell therapy business following a comprehensive strategic review. The decision was made after considering various alternatives, including a potential divestiture, but no viable proposals were received. The company plans to reallocate its resources to focus on building a pipeline of novel therapeutics through strategic business development transactions. This move is expected to impact approximately 365 employees across Europe, the U.S., and China, and may result in the closure of several sites. The company anticipates incurring significant operating and restructuring costs related to the wind-down process. The decision was unanimously approved by the Board of Galapagos NV, excluding the two Directors appointed by Gilead. The company will continue to operate the business during consultations with works councils in Belgium and the Netherlands.