MedCity News January 8, 2025
Galapagos said the planned business separation will leave the legacy company free to focus on developing cell therapies for cancer. An accompanying corporate restructuring will shave Galapagos’s headcount by 40%.
The Galapagos pipeline spans both oncology and immunology, but in recent years, the company has invested heavily in cancer cell therapy. The firm is now fully embracing the modality, announcing on Wednesday a business separation that leaves legacy Galapagos focused on cell therapy and a spin-off company able to independently develop a variety of new medicines. The transaction will result in two separate publicly traded companies.
The yet-to-be named new company, called SpinCo for now, will be capitalized with €2.45 billion (about $2.5 billion) from Belgium-based Galapagos, which will retain...
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