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Galapagos Looks To Start Afresh With Spin-Out Company And New Gilead Deal

 
• By Andrew McConaghie

Galapagos and Gilead are calling time on their ill-fated licensing deal and the Belgian biotech is looking to unlock value by creating a business development-focused spin-out armed with a €2.45bn cash pile. Major job cuts are also on the cards.

Galapagos HQ
• Source: Galapagos

After years of declining investor confidence in its business model, Galapagos is to start afresh by splitting in two and resetting its failed in-licensing deal with Gilead.

The Belgium-based biotech received $3.95bn upfront payment from Gilead nearly six years ago in a small-molecule drug discovery deal focused on inflammatory diseases, a huge sum which the partners hoped...

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