Galapagos Announces Executive Leadership Updates

Core Viewpoint - Galapagos NV is undergoing a planned separation into two independent entities, with Mr. Henry Gosebruch appointed as the founding CEO of the new subsidiary, SpinCo, which will focus on innovative medicines and is initially funded with approximately €2.45 billion in cash and cash equivalents [2][3]. Group 1: Leadership Changes - Dr. Paul Stoffels, the current CEO and Chair of the Board of Directors at Galapagos, plans to retire as CEO within the next 12 months but will remain as Chair, ensuring leadership continuity [1][3]. - The Board of Directors will search for a successor CEO for Galapagos, who will lead the company into its next phase of growth and innovation as a focused cell therapy company [3][4]. Group 2: SpinCo's Focus and Strategy - SpinCo will concentrate on building a pipeline of innovative medicines with demonstrated proof-of-concept, aiming to elevate the standard of care for patients through transformative transactions [2][3]. - The new entity will leverage a strong balance sheet and pursue opportunities that create significant value for shareholders [3][5]. Group 3: Background of Mr. Henry Gosebruch - Mr. Gosebruch has extensive experience in M&A, business development, and venture capital, previously serving as President and CEO at Neumora and Executive Vice President at AbbVie [6][7]. - At AbbVie, he was instrumental in completing over 100 business development transactions, including the acquisition of Allergan [7][8]. - His background includes over 20 years at J.P. Morgan, where he co-headed the North American M&A Group and worked on transactions exceeding $375 billion [8]. Group 4: Galapagos' Strategic Direction - Galapagos aims to transform into an R&D-driven biotech company with a focus on oncology, utilizing a decentralized manufacturing platform for cell therapies [4][9]. - The company is advancing its pipeline of potentially best-in-class assets, with ongoing Phase 2 clinical studies targeting aggressive hematological malignancies and solid tumors [4].