Galapagos begins winding down cell therapy activities
Belgian-Dutch biotech company Galapagos has approved the gradual winding down of its cell therapy business. The decision will lead to 365 job losses across Europe, the US and China, and the closure of sites in Leiden, Basel, Princeton, Pittsburgh and Shanghai, the company announced on Monday. The search for a buyer did not produce any viable offers, following earlier talks with works councils.
The decision follows plans first announced in October, when Galapagos said it intended to phase out its cell therapy activities after a strategic review and unsuccessful sale process. At the time, the company said “no viable proposals” were received, and its share price fell sharply on the Brussels stock exchange after the news.
The company says it now wants to refocus the remaining organisation on “long-term growth” through new partnerships and business development. The headquarters in Mechelen will remain open, as will hubs in Chicago and San Francisco.
Galapagos will provide more details on the expected timeline and costs of the wind-down during its 2025 results announcement and investor call on 23 and 24 January. Earlier guidance suggested operating costs of 100-125 million euros from late 2025 into 2026, and one-off restructuring costs of 150-200 million euros in 2026.
The restructuring comes after a difficult period for the company, which previously explored several strategic options for its cell therapy arm, including a planned spin-off that was later abandoned. Galapagos says the new strategy is aimed at stabilising the business and creating a clearer path to future growth.
#FlandersNewsService | Galapagos headquarters in Mechelen © BELGA PHOTO JONAS ROOSENS
Related news
