Stoffels charts new course for Galapagos with pair of acquisitions

New CEO moves embattled Belgian biotech into cell therapies, mAbs for cancer

June 24, 2022 7:58 PM UTC

Less than three months into his new role, Galapagos Chairman and CEO Paul Stoffels is taking quick action to shift the company’s strategic focus away from small molecules, a reliance that had dented investor confidence in the biotech over the past two years. A pair of small yet transformative acquisitions will broaden the biotech’s R&D armamentarium beyond its historical focus on small molecules in inflammation to include CAR T therapies and other biologics.

Galapagos N.V. has had its share of ups and downs in the past decade: going from a spurned partner with AbbVie Inc. (NYSE:ABBV) declining its option for filgotinib in 2015 to parlaying that opportunity into one of the largest biotech collaborations in history, the $5.1 billion deal with Gilead Sciences Inc. (NASDAQ:GILD) in 2019...