The Galapagos board of directors has decided to re-evaluate the previously proposed separation into two entities and will instead explore all strategic alternatives for its existing businesses.
Back in January, the Belgium-based biotech announced a planned separation into two companies: one focused on building a pipeline of innovative medicines through strategic transactions and one which would continue to advance Galapagos’ cell therapy candidates in oncology. This planned separation was expected by mid-2025.
Now, after making significant progress in reorganizing its business towards the separation, Galapagos is looking at other options that may better maximize “resources available for transformative business development transactions.”
To that end, the company’s board of directors has appointed Henry Gosebruch as CEO of Galapagos and executive director of the board by way of co-optation, replacing Paul Stoffels, effective immediately. Gosebruch had originally been tapped to be the founding CEO of the newly formed spinout company (SpinCo). Stoffels will remain with the company in an advisory capacity and assist in the evaluation of strategic options for the cell therapy pipeline assets under development at Galapagos, including its flagship program, GLPG5101.
“We are currently evaluating strategic options regarding our clinical programs and other assets. I look forward to working with Paul in finding a value-maximizing alternative for the cell therapy business including exploring mergers, divestures, and out-licensing. In parallel, we will pursue transformative business development opportunities in order to build an innovative pipeline with the potential to deliver differentiated medicines for patients,” said Gosebruch.
Subscribe to our e-Newsletters
Stay up to date with news, articles and insights relevant to cell and gene therapy development and manufacturing. Plus, get special offers from Cell & Gene Therapy Review delivered right to your inbox!
Sign up now!