Galapagos Intends to wind down cell therapy business
Galapagos announced its intention to wind down its cell therapy business following a strategic review. This follows a previous announcement of non-binding offers, subject to financing, where previous CEO Paul Stoffels emerged as one of the bidders for the business. This decision suggests external financing for the project has not been obtained, and we believe the decision to wind down the cell therapy business creates clarity and allows Galapagos to move forward with its new plans of building a pipeline through business development deals. € 37 TP and ACCUMULATE maintained.Galapagos is a clinical-stage biotechnology company specialized in the discovery and development of small molecule medicines with novel modes of action, addressing disease areas of high unmet medical need. Execution on its proprietary drug target discovery platform has delivered a pipeline that consists of three Phase 2, three Phase 1, five pre-clinical, and 20 discovery programs in inflammation, cystic fibrosis, or CF, osteoarthritis, and other indications. Co.'s highly flexible platform offers applicability across a broad set of therapeutic areas. Co.'s programs include filgotinib, GLPG1837, GLPG1690, GLPG2222, GLPG1972.
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