Galapagos Announces Executive Leadership Updates

In line with its planned separation into two independent entities (the “Separation”), Mr. Henry Gosebruch was today appointed as founding CEO of the Galapagos subsidiary, currently named XYZ SpinCo NV (“SpinCo”), which will be renamed in the Separation. As previously disclosed, SpinCo will separate from Galapagos’ current operations and initially be funded with approximately €2.45 billion in cash and cash equivalents. SpinCo will be focused on building a pipeline of innovative medicines with demonstrated proof-of-concept and the potential to elevate standard-of-care for patients through one or more transformative transactions. In parallel, Galapagos will continue to advance its pipeline of potential best-in-class cell therapies in hematological and solid tumors, leveraging its foundational decentralized manufacturing platform.

Dr. Stoffels (1), CEO and Chair of the Board of Directors at Galapagos, commented, “Henry’s appointment marks a key milestone as we progress on our planned Separation. His extensive biotech experience, leadership, and track record in creating shareholder value through M&A and business development will be of significant value to SpinCo, as it focuses on building a differentiated pipeline of innovative medicines with robust proof-of-concept.”

Henry Gosebruch, incoming CEO of SpinCo, commented, “I am honored to take on the role of Founding CEO of SpinCo. I look forward to forming a world-class team and pursuing transformational opportunities in innovative medicines that can bring meaningful therapies to patients in need, while unlocking significant value for our shareholders.”

“Henry is the right leader to take on the CEO role for SpinCo as he leverages his extensive experience and the strong balance sheet to build an exciting pipeline,” said Mr. Andrew Dickinson, Chief Financial Officer, Gilead Sciences, and Non-Executive Non-Independent Member, Galapagos’ Board of Directors. “We look forward to working with him as he pursues transactions with the potential to create significant value for all shareholders.”

Dr. Stoffels, Chair and CEO of Galapagos, has informed the Board of Directors of his intent to retire from his role as CEO upon appointment of a successor, and to remain as Non-Executive Chair of the Galapagos Board of Directors, thereby being able to continue to provide strategic guidance and support to the Company, subject to the reappointment as Director at the 2026 Annual General Meeting. The Board will search for a successor CEO who will lead Galapagos into its next phase of growth and innovation as a focused cell therapy company, dedicated to delivering breakthrough treatments that address high unmet patient need.  The successor CEO is expected to be hired in the next 12 months.

Dr. Stoffels said, “I am proud to have transformed Galapagos into an R&D-driven biotech company with a clear focus on oncology. Following the acquisitions of CellPoint and Abound Bio in 2022, we established a unique decentralized manufacturing platform designed to deliver fresh, stem-like early memory cell therapy with a vein-to-vein time of just seven days. Two programs leveraging this platform are currently in Phase 2 clinical studies targeting nine aggressive hematological malignancies, a TCR-T candidate having delivered strong preclinical proof-of-concept in solid tumors, and a next-generation CAR-T candidate expected to enter the clinic by year-end. With the Separation, Galapagos will have the autonomy to execute on its cell therapy growth strategy, focusing on advancing its pipeline of potentially best-in-class assets and building a global, decentralized manufacturing network.”

“On behalf of the Board, I would like to sincerely thank Paul for reshaping Galapagos’ strategy over the past three years. His leadership has helped sharpen our focus on developing new oncology treatments, making meaningful progress for patients while creating long-term value for shareholders. Looking ahead, the Board intends to propose Paul for a second four-year term as Director at the 2026 Annual General Meeting and to have him continue as Chair of the Board, thereby staying closely involved with the Company,” said Mr. Jérôme Contamine, Lead Non-Executive Director of Galapagos. “Having worked closely with Henry on successful M&A in the past, I am delighted to welcome him to Galapagos. I have great confidence that Henry has the appropriate skills to lead SpinCo as it embarks on its mission.” 

Background information on Mr. Gosebruch

Mr. Gosebruch joins SpinCo with deep experience in M&A, business development, partnering and venture capital, and a strong track record of building new growth businesses, pursuing pipeline opportunities, prudent capital allocation and creating shareholder value. 

Mr. Gosebruch was most recently President and Chief Executive Officer at Neumora (NASDAQ: NMRA), a clinical-stage biopharmaceutical company focused on redefining neuroscience drug development. He joined Neumora in July 2023, leading the company through its initial public offering (IPO) in September 2023 and advancing its capabilities and pipeline. 

Prior to Neumora, Mr. Gosebruch was Executive Vice President and Chief Strategy Officer at AbbVie, where he was responsible for Corporate Strategy, Competitive Strategy & Insights, Business Development & Acquisitions, Search & Evaluation, Alliance Management, R&D decision support/portfolio analytics and AbbVie Ventures. At AbbVie, Mr. Gosebruch and his team completed more than 100 business development transactions, diversifying AbbVie by building new growth businesses and pipeline opportunities. Among others, Mr. Gosebruch and his team played a critical role in identifying and executing the acquisition of Allergan and the partnership for risankizumab (Skyrizi®). 

Prior to joining AbbVie in 2015, Mr. Gosebruch worked at J.P. Morgan for more than 20 years, most recently as its North American M&A Group Co-Head based in New York. During his time at J.P. Morgan, Mr. Gosebruch worked on M&A transactions in excess of $375 billion in total value involving companies in more than 20 countries. 

About Galapagos

We are a biotechnology company with operations in Europe and the U.S. dedicated to transforming patient outcomes through life-changing science and innovation for more years of life and quality of life. Focusing on high unmet medical needs, we synergize compelling science, technology, and collaborative approaches to create a deep pipeline of best-in-class medicines. With capabilities from lab to patient, including a decentralized cell therapy manufacturing platform, we are committed to challenging the status quo and delivering results for our patients, employees, and shareholders. Our goal is not just to meet current medical needs but to anticipate and shape the future of healthcare, ensuring that our innovations reach those who need them most.