Euronext:GLPG

Galapagos NV has entered into a binding agreement with Gilead Sciences to collaborate on advancing a first-in-class T cell engager program for autoimmune diseases, centered on the drug candidate gamgertamig.

The agreement is linked to Gilead’s planned $1.675 billion acquisition of Ouro Medicines, with additional milestone payments of up to $500 million. Under the deal, Galapagos will fund 50% of the upfront and milestone costs while gaining access to key intellectual property and operational assets, including Ouro’s research platform.

Gamgertamig, currently in Phase 1/2 studies, has shown strong early efficacy and safety in severe autoimmune conditions such as autoimmune hemolytic anemia and immune thrombocytopenia, and could enter late-stage trials as early as 2027.

The collaboration also provides Galapagos with greater financial flexibility, including control over at least $500 million in cash for independent strategic initiatives and potential shareholder returns. Gilead will lead global commercialization, paying tiered royalties to Galapagos upon market launch.

The companies said the partnership aims to accelerate development of innovative immune therapies targeting high unmet medical needs.
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Author
The Investor 03-31-26
Galapagos reports €3.0bn cash position after strategic reset in 2025

Feb. 23, 2026 — Galapagos NV said it ended 2025 with approximately €3.0 billion in cash and financial investments, following a strategic reset aimed at repositioning the company for long-term value creation.

The company is progressing with the wind-down of its cell therapy activities, expected to be substantially completed by the end of the third quarter of 2026. Related one-time restructuring cash costs have been reduced to an updated range of €125–175 million, with €25 million in additional one-off costs anticipated in 2026.

Galapagos expects its 2026 year-end cash position to be between €2.775 billion and €2.850 billion and aims to be cash flow neutral to positive by the end of 2026, excluding business development activity and currency effects.

Management said the company will transition to a lean structure of 35–40 employees by end-2026 and focus on a business development-led growth strategy, leveraging its collaboration with Gilead Sciences to build a new pipeline of novel therapeutics targeting areas of high unmet medical need.
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Author
WS Investor 02-24-26
Galapagos NV announced that its Board of Directors has formally decided to initiate the wind-down of its cell therapy activities, following the completion of works council consultations in Belgium and the Netherlands.

The decision follows a strategic review and sale process announced in October 2025, during which the company explored divestment options for the cell therapy business. The wind-down will affect approximately 365 employees across Europe, the United States and China, and will lead to the closure of sites in Leiden, Basel, Princeton, Pittsburgh and Shanghai.

Chief Executive Officer Henry Gosebruch said the company is now focused on executing the wind-down while continuing Galapagos’ transformation through business development. After completion, Galapagos will reposition its remaining organization for long-term growth, maintaining its headquarters in Mechelen, Belgium, and U.S. hubs in Chicago and San Francisco.

Non-cell therapy activities will continue, including the TYK2 program GLPG3667, for which Galapagos will evaluate strategic alternatives such as renewed partnering to advance development in dermatomyositis and potentially other severe autoimmune diseases. As of 31 December 2025, the company held approximately €3.0 billion in cash, cash equivalents and financial investments, and plans to provide further details on wind-down costs, timing and updated financial guidance with its full-year 2025 results in late February 2026.
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Author
European Investor 02-08-26
Galapagos Reports Mixed Phase 3-Enabling Results for TYK2 Inhibitor GLPG3667

Galapagos said its selective TYK2 inhibitor GLPG3667 met the primary endpoint in a Phase 3-enabling study in dermatomyositis, showing statistically significant clinical benefit versus placebo, along with meaningful improvements on secondary measures and a consistent safety profile. In a separate Phase 3-enabling study in systemic lupus erythematosus, the drug did not achieve statistical significance on the primary endpoint, although numerical improvements were observed on several secondary endpoints. Galapagos said it will evaluate strategic options, including potential partnering, to accelerate further development of GLPG3667 in dermatomyositis and possibly other severe autoimmune diseases.
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Author
Global Finance News 12-22-25
Galapagos reports strong phase 2 car-t data in mantle cell lymphoma, despite planned cell therapy wind-down

Galapagos has presented new phase 2 data from its ATALANTA-1 study at ASH 2025, showing its CD19 CAR T-cell candidate GLPG5101 achieved a 100% objective response rate and 96% complete response rate in heavily pretreated relapsed/refractory mantle cell lymphoma. At a median follow-up of nine months, both duration of response and progression-free survival rates were 83%, with 90% of evaluable patients achieving MRD negativity and most maintaining complete remission.

The fresh, early memory-enriched CAR T product is manufactured with a short 7-day vein-to-vein time, which limited dropout to 4% and eliminated the need for bridging therapy. GLPG5101 showed an encouraging safety profile, with high-grade toxicities largely hematologic and no grade ≥3 cytokine release syndrome and only one grade ≥3 ICANS event reported.

Despite the positive data, Galapagos reiterated its intention to wind down its cell therapy activities as announced in October 2025, while continuing ongoing studies and remaining open to potential buyers for all or part of the cell therapy business.
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Author
WS Investor 12-08-25
Galapagos reported that Bank of America crossed the 5% voting-rights threshold twice in November, triggering transparency notifications under Belgian disclosure rules. Bank of America’s holdings rose above 5% on 12 November 2025 after acquiring additional voting rights and financial instruments but fell back to 3.43% on 14 November following disposals. The bank’s position decreased from a total of 5.26% in the earlier notification to 3.43%, consisting of 0.16% in direct voting rights and 3.28% through equivalent financial instruments. The notifications reflect changes involving various Bank of America affiliates, including Merrill Lynch International and BofA Securities.
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Author
WS Investor 12-01-25