Galapagos Bundle
What is the history of Galapagos?
Galapagos NV, a prominent biotechnology company, has evolved significantly since its founding in 1999. Initially established as Galapagos Genomics NV, a joint venture, the company has strategically expanded its focus and capabilities.
A key development was the acquisition of CellPoint and AboundBio in June 2022, marking a substantial entry into next-generation cell therapy and broadening its therapeutic reach.
What is Brief History of Galapagos Company?
Founded in 1999 as Galapagos Genomics NV, a joint venture between Crucell and Tibotec, the company began its journey in Mechelen, Belgium. Its initial vision was to pioneer life-changing science for patients. Today, Galapagos holds a market capitalization of approximately $2.11 billion as of July 25, 2025, focusing on oncology and immunology. This trajectory reflects a history of strategic advancements and a commitment to addressing unmet medical needs, including advancements in areas like those explored in the Galapagos BCG Matrix.
What is the Galapagos Founding Story?
The Galapagos Company history began on June 29, 1999, when Galapagos Genomics NV was established as a joint venture. This venture brought together Crucell and Tibotec, two prominent biotechnology firms, to foster innovation in patient care. Onno van de Stolpe is widely recognized as a pivotal figure in the company's inception and served as its CEO for two decades.
Galapagos Company Origins
Galapagos Company origins trace back to a vision of transforming patient outcomes through cutting-edge science. The company's initial strategy centered on a technological platform utilizing adenoviruses for gene research.
- Galapagos Company founded: June 29, 1999
- Founding partners: Crucell and Tibotec
- Key figure: Onno van de Stolpe (CEO for 20 years)
- Initial focus: Adenovirus-based gene research platform
- Evolution: From genomics services to proprietary drug discovery
The early business model of Galapagos was built upon a technological platform that employed adenoviruses to introduce human gene sequences into cell lines for research. This foundational approach was instrumental in the company's transition from a genomics services provider to a dedicated research and development entity focused on its own drug discovery initiatives. The company's commitment to pioneering for patients and addressing significant unmet medical needs remained a guiding principle throughout its early development.
Galapagos Company's early funding included approximately $26.1 million raised across 21 funding rounds. A significant post-initial public offering funding event occurred in November 2019, raising $411 million. The establishment of Galapagos took place within a rapidly expanding biotechnology sector, with a clear objective to apply advanced genomic research to the development of novel therapeutics. This historical context highlights the company's strategic positioning to capitalize on emerging scientific advancements and contribute to the broader landscape of medical innovation, aligning with its Mission, Vision & Core Values of Galapagos.
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What Drove the Early Growth of Galapagos?
The early history of the Galapagos Company details its transformation into a publicly traded biotechnology firm, marked by its initial public offering in May 2005. This period saw strategic acquisitions and a significant divestment to sharpen its focus on pipeline development.
IPO and Public Listing
Galapagos Company's transition to a public entity began with its IPO on Euronext Brussels and Amsterdam in May 2005. This was followed by a NASDAQ listing in 2015, broadening its access to global capital markets.
Strategic Acquisitions and Expansion
Early expansion efforts included acquiring ProSkelia in France in 2006, strengthening R&D capabilities. The acquisition of Zagreb research operations from GSK in 2010 further bolstered its drug discovery services.
Focus on R&D Pipeline
In 2014, Galapagos divested its fee-for-service businesses, BioFocus and Argenta, to Charles River Laboratories. This strategic move allowed the company to concentrate exclusively on developing its novel R&D pipeline.
Transformative Collaboration and Global Footprint
A significant milestone was the 2019 global R&D collaboration with Gilead Sciences, impacting its financial and strategic direction. The company's operational footprint expanded to include sites in Leiden, Romainville, Basel, Milan, Madrid, Boston, and Zagreb, supporting its growing research initiatives.
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What are the key Milestones in Galapagos history?
The Galapagos Company history is marked by significant advancements in biotechnology, transitioning from a research-focused entity to a commercial-stage company. Key developments include the marketing authorization of its flagship product in multiple regions, strategic acquisitions to bolster its cell therapy capabilities, and a series of strategic realignments aimed at optimizing its business focus.
| Year | Milestone |
|---|---|
| 2020 | Received marketing authorization for Jyseleca® in the European Union, Great Britain, and Japan for rheumatoid arthritis. |
| 2021 | Secured approval for Jyseleca® for ulcerative colitis in the European Union and Great Britain. |
| 2022 | Acquired CellPoint and AboundBio to expand into next-generation cell therapy. |
| 2022 | Jyseleca® approved for ulcerative colitis in Japan. |
| 2024 | Transferred its Jyseleca® business to Alfasigma. |
| 2025 | Announced a proposed separation into two publicly traded entities, later re-evaluated. |
The company's innovation is deeply rooted in its proprietary target discovery platform, which has been instrumental in identifying novel drug candidates. This platform underpins its ability to explore new therapeutic avenues and develop innovative treatments.
Proprietary Target Discovery Platform
This platform is central to the company's innovation strategy, enabling the identification of novel drug targets and candidates across various disease areas.
Cell Therapy Acquisition
The acquisitions of CellPoint and AboundBio provided access to advanced cell therapy technologies and a scalable supply model, significantly advancing its position in this emerging field.
Human Antibody-Based Therapeutics
The acquisition of AboundBio brought a platform focused on developing human antibody-based therapeutics, further diversifying its innovation pipeline.
The company has faced significant challenges, including substantial operating losses and strategic shifts that have impacted its financial performance and workforce. Navigating these hurdles has involved considerable restructuring and re-evaluation of its business direction, as seen in the proposed and subsequently re-evaluated separation plan.
Financial Performance and Restructuring
The company reported an operating loss of €188.3 million in 2024 and a net loss of €259.1 million in the first half of 2025, largely due to strategic reorganization costs. This period also saw a significant workforce reduction of approximately 300 employees.
Strategic Pivot and Program Discontinuation
Under new leadership, the company underwent a major strategic pivot, re-focusing on oncology and cell therapy while discontinuing programs in fibrosis and kidney disease. This involved the transfer of its Jyseleca® business to Alfasigma in January 2024.
Re-evaluation of Strategic Separation
A planned separation into two entities announced in January 2025 was later re-evaluated by May 2025, with the company exploring strategic alternatives for its cell therapy business to maximize shareholder value. Understanding these shifts is crucial when examining the Competitors Landscape of Galapagos.
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What is the Timeline of Key Events for Galapagos?
The Galapagos Company history is a narrative of strategic evolution, from its founding as Galapagos Genomics NV in 1999 to its current re-evaluation and future focus on cell therapies and small molecule assets. Key milestones include its Euronext and NASDAQ listings, a significant R&D collaboration with Gilead Sciences, and the successful commercialization of Jyseleca®.
| Year | Key Event |
|---|---|
| 1999 | Founded as Galapagos Genomics NV, marking the Galapagos Company origins. |
| 2005 | Listed on Euronext Brussels and Amsterdam, a significant step in its Galapagos Company timeline. |
| 2014 | Divested fee-for-service businesses to concentrate on its proprietary R&D pipeline, a key part of its Galapagos Company evolution. |
| 2015 | Listed on NASDAQ, expanding its global presence. |
| 2019 | Initiated a decade-long R&D collaboration with Gilead Sciences, a major strategic move. |
| 2020 | Received marketing authorization in Europe, Great Britain, and Japan for Jyseleca® for rheumatoid arthritis. |
| 2021 | Secured approval for Jyseleca® for ulcerative colitis in Europe and Great Britain. |
| April 2022 | Paul Stoffels assumed the role of CEO, signaling a strategic pivot. |
| June 2022 | Acquired CellPoint and AboundBio, entering the cell therapy sector. |
| January 2024 | Transferred the Jyseleca® business to Alfasigma and established a collaboration with BridGene Biosciences in oncology. |
| January 2025 | Announced plans to separate into two publicly traded companies. |
| April 2025 | The first U.S. patient was dosed in the ATALANTA-1 study of GLPG5101. |
| May 2025 | Announced a re-evaluation of the proposed separation, exploring strategic alternatives for its cell therapy business. |
| July 2025 | Reported a net loss of €259.1 million for the first half of 2025, while maintaining a strong cash position of €3.1 billion. |
Advancing Cell Therapy Pipeline
The company is progressing its lead CAR-T therapy, GLPG5101, towards pivotal development for mantle cell lymphoma, with pivotal studies expected to commence in 2026 and an anticipated approval in 2028. Galapagos intends to initiate clinical development of a new CAR-T candidate by the end of 2025.
Expanding Next-Generation Therapies
Galapagos plans to expand its next-generation cell therapy pipeline by adding at least one more program in 2026. This strategic expansion aims to bolster its presence in innovative therapeutic areas.
Small Molecule Asset Partnerships
The company is actively seeking partnerships for its small molecule assets, including the TYK2 inhibitor GLPG3667. This asset is in Phase 3-enabling studies for systemic lupus erythematosus and dermatomyositis, with topline results anticipated in the first half of 2026.
Strategic Re-evaluation and Financial Strength
Despite a net loss of €259.1 million in the first half of 2025, Galapagos maintains a robust cash position of €3.1 billion. The company is re-evaluating its proposed separation into two entities, exploring strategic alternatives for its cell therapy business, which reflects its dynamic approach to business development and its Revenue Streams & Business Model of Galapagos.
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