Galapagos stands down
Mechelen – Belgian drug discovery company Galapagos NV has withdrawn its listing on London’s Alternative Investment Market AIM. Instead, the board of directors has decided to launch a “Level 1 American Depositary Receipt (ADR)” facility in the United States. This would make it possible to trade Galapagos’ shares on an over-the-counter basis in the US. “The ADR program is part of our strategy to increase the company’s visibility with investors in the United States”, said Onno van de Stolpe, CEO of Galapagos. The company will remain listed on the Euronext exchange. Galapagos was listed at the AIM after the company had acquired quoted British Biofocus plc.