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Galapagos Announces €2.45B Capitalization for Spin-Off Company to Develop Medicines With Gilead Partnership
Contract Type
partnership
BelgiumBiotechnologyPharmaceuticalBiopharmaDescription
Galapagos has announced the creation of a new company, called SpinCo, capitalized with €2.45 billion from Galapagos. The new company will independently develop a variety of new medicines, including those with clinical proof-of-concept in oncology, immunology, and virology. SpinCo will also inherit a collaboration agreement with Gilead Sciences signed in 2019. This move will result in Galapagos and SpinCo becoming two separate publicly traded companies, with Galapagos focusing on cell therapy.