After a 12-month period that saw the Belgian biotech consider a spinout, swap out CEOs, and enter a three-way acquisition agreement involving Ouro Medicines, Galapagos now has a new moniker.
“Galapagos” has closed its shell. After 27 years carrying the name of the famed tortoise—and islands— Galapagos unveiled its new identity, Lakefront Biotherapeutics, last week.
The company has been doing a lot of soul searching lately.
At the beginning of 2025, Galapagos planned to split into two businesses, with one focused on its cell therapy portfolio. The other would seek assets with proof-of-concept data and the potential to beat standard of care options. But in October, the Belgian biotech announced its intention to wind down the cell therapy business—joining several others, including Novo Nordisk and Takeda, in abandoning the space.
Galapagos also switched CEOs last May. Johnson & Johnson vet Paul Stoffels took the helm in 2022 and had promised a turnaround for the company in five years. Despite having been in business for more than a quarter century, Galapagos has yet to secure a product approval. Stoffels brought in the cell therapy assets through a series of acquisitions. Galapagos announced in May 2025 that Stoffels would depart the company two years before his turnaround deadline.
Enter Henry Gosebruch, former CEO of Neumora, who was originally intended to steer the prospective spinoff. Stoffels was supposed to stick around for 12 months to help the company through a CEO search, but that plan was scrapped with the spinoff idea. Gosebruch was appointed CEO of the whole shebang.
Galapagos sought buyers for the cell therapy unit before shuttering the division. “Ultimately no viable proposals were received,” Gosebruch said in an October statement.
Which brings us to the new name Lakefront, which is partly a reflection of the Chicago Lakefront, where Gosebruch runs and “reflects,” according to Endpoints News.
The new moniker also “reflects our company’s strategic evolution,” Gosebruch said in a statement on May 7, as the company reported first quarter earnings.
Gosebruch has been active in his new role, most recently entering into a complicated relationship with longtime partner Gilead Sciences. In March, Gilead picked up Ouro Medicines and its T-cell engager for OM336 for $2.1 billion—a cost to be shared with Galapagos, now Lakefront. Under the proposed agreement, Galapagos would shoulder 50% of both the upfront and milestone payments to Ouro.
Lakefront entered into a binding agreement with Gilead on March 31, sealing the Ouro deal, according to its recent press release. The partners will collaborate on the development of OM336—also called gamgertamig—with Lakefront taking on development costs through initiation of registrational studies, after which point the costs will be shared equally.
“Having joined the company just one year ago, I’m thrilled with our progress,” Gosebruch said last week. “I am looking forward to consummating our partnership with Gilead and adding Ouro Medicines’ talented team and its portfolio of programs to our company, including the potential first and best in class T cell engager in autoimmune diseases, gamgertamig (OM336).”
Lakefront recorded net revenue of €6.5 million ($7.6 million) for 2025 , and projects year-end 2026 cash and financial investments to be approximately €2 billion ($2.3 billion).
