Sudden U-turn for Galapagos as new CEO steps in early

Belgian biotech Galapagos (Euronext: GLPG) is pausing its high-profile plan to break into two separate businesses, just five months after unveiling the ambitious strategy. The company also confirmed a sudden change in leadership, with Henry Gosebruch stepping in as chief executive effective immediately.

In a May 13 update, Galapagos said it is re-evaluating the previously announced split in light of “regulatory and market developments,” and will now consider a wider range of strategic options for its business, including the future of its cell therapy operations.

The Mechelen-based company had originally planned to create a new spinout focused on business development and deal-making, while retaining its name and cell therapy pipeline, including lead candidate GLPG5101 for blood cancers. Gosebruch had already been tapped to lead the new entity, but will now head up the unified company, replacing Paul Stoffels.