Galapagos Board Receives Limited Non-Binding Offers for Cell Therapy Business Sale

Galapagos NV, a biotechnology company focusing on oncology and immunology, is exploring strategic alternatives for its cell therapy business, including a potential sale to enhance shareholder value. The company's board has received a limited number of non-binding offers, predominantly from financial investors, and has provided interested parties with access to confidential information for due diligence. The deadline for submitting fully financed binding offers is approaching, after which the board will decide on the best strategic path, with an announcement expected by November 5, coinciding with the release of third-quarter financial results. Despite challenges in profitability, Galapagos maintains strong cash reserves and a deep clinical pipeline, including CAR-T product candidates in various phases of trials. The strategic review reflects the company's focus on addressing unmet medical needs through innovative therapies while ensuring operational efficiency. Overall, the potential divestiture aims to maximize shareholder value while continuing to advance its biotechnology mission.