Jacob Mekhael

Judah Frommer

Sebastiaan van der Schoot

Philip Nadeau

Sean McCutcheon

Alex [on for Phil Nadeau]

Brian Abrahams

Chi Fong

Dane Leone

David Seynnaeve

Faisal Khurshid

Manos Mastorakis

Shan Hama

Xian Deng

- **Galapagos NV** announced its intention to **wind down its cell therapy business** as part of an ongoing transformation, following a comprehensive strategic review that did not yield viable divestiture proposals.  **[1421876_0001171843-25-006542_exh_991.htm:0]** 
- This decision is anticipated to impact approximately **365 employees** across Europe, the U.S., and China, and will lead to the closure of sites in Leiden, Basel, Princeton, Pittsburgh, and Shanghai.  **[1421876_0001171843-25-006542_exh_991.htm:0]** 
- If implemented, the company expects to incur **€100 million to €125 million** in operating costs from Q4 2025 through 2026 and **€150 million to €200 million** in one-time restructuring costs in 2026 related to the cell therapy business wind-down.  **[1421876_0001171843-25-006542_exh_991.htm:0]** 
- The remaining Galapagos organization plans to focus on building a pipeline of novel therapeutics through **strategic business development transactions**, utilizing its available cash resources.  **[1421876_0001171843-25-006542_exh_991.htm:0]**

Galapagos Announces Intention to Wind Down Cell Therapy Business

- Galapagos' Board of Directors decided on **May 13, 2025**, to explore strategic alternatives for its Cell Therapy Business, including a potential divestiture.  **[1421876_0001171843-25-006227_exh_991.htm:0]** 
- As of **October 1, 2025**, the Board has received a **limited number of non-binding offers** from consortia, predominantly comprised of financial investors, to acquire the Cell Therapy Business.  **[1421876_0001171843-25-006227_exh_991.htm:0]** 
- The deadline for potential bidders to submit **binding, fully-financed offers** is in the coming weeks.  **[1421876_0001171843-25-006227_exh_991.htm:0]** 
- Galapagos expects to announce the outcome of the strategic review no later than **November 5, 2025**, with the release of its third-quarter financial results.  **[1421876_0001171843-25-006227_exh_991.htm:0]**

Galapagos Provides Update on Strategic Alternatives for Cell Therapy Business

GALAPAGOS (GLPG)