The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture of chemicals and pharmaceuticals Manufacture of basic pharmaceutical products and pharmaceutical preparations 21.2 - Manufacture of pharmaceutical preparations
133 jobs Number of planned job losses
Announcement Date
30 May 2025
Employment effect (start)
30 May 2025
Foreseen end date
Description
iTeos, a biotech company specialised in the development and production of pharmaceuticals, has announced it will be ceasing operations, involving a closure of its facility in Belgium. In total, 133 employees are at risk of losing their jobs.
An important factor in the downturn of the company is the fact that the company recently faced a significant setback when two cancer treatment studies they were involved did not produce the desired results. As a result, iTeos ended their long-term collaboration with a large pharmaceutical company called GSK.
Eurofound (2025), iTeos Therapeutics, Closure in Belgium, factsheet number 202885, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202885.
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