About this Report
This report contains information required under Belgian law. Galapagos NV is a limited liability company organized under the laws of Belgium, with its registered office at Generaal De Wittelaan L11 A3, 2800 Mechelen, Belgium and registered with the Crossroads Enterprise Database (RPR Antwerp – division Mechelen) under number 0466.460.429.
Throughout this report, the term “Galapagos NV” refers solely to the non-consolidated Belgian company, and references to “we”, “our”, “the group” or “Galapagos” include Galapagos NV together with its subsidiaries.
This report is published in Dutch and English. Galapagos will use reasonable efforts to ensure the translation and conformity between the Dutch and English versions. In case of inconsistency between the Dutch and English versions, the Dutch version shall prevail.
This document is the printed or PDF version of the Annual Report 2025 and is a free translation of the official Dutch language version in the European single electronic format (ESEF) of the Annual Report 2025. The official Dutch language ESEF version of the report prevails and is available on our website (www.glpg.com).
This report, as well as the statutory financial statements of Galapagos NV, are available free of charge and upon request to be addressed to: Galapagos NV Investor Relations, Generaal De Wittelaan L11 A3 2800 Mechelen, Belgium, Tel: +32 15 34 29 00, Email: ir@glpg.com.
A digital version of this report, as well as the statutory financial statements of Galapagos NV, is available on our website (www.glpg.com). We will use our reasonable efforts to ensure the accuracy of the digital version, but we do not assume responsibility if inaccuracies or inconsistencies with the printed or PDF document arise as a result of any electronic transmission. Other information on our website, or on other websites, is not a part of this report.
As a U.S. listed company, we are also subject to the reporting requirements of the U.S. Securities and Exchange Commission, or SEC. An annual report will be filed with the SEC on Form 20-F. Our annual report on Form 20-F is available in the SEC’s ED-GAR database (www.sec.gov/edgar.shtml), and a link thereto is posted on our website.
Lakefront Biotherapeutics™ is a registered trademark. All rights reserved.
Proposal for Change of Company Name to be voted on at the Extraordinary General Meeting (EGM) of April 28, 2026
The Board of Directors completed a strategic review to position the Company for sustainable growth and long-term value creation in a changing biotech landscape. The review confirmed a clear opportunity to build a more focused and agile organization centered on advancing clinically validated medicines with the potential to deliver meaningful benefits for patients. As part of this shift, the Company has decided to exit its cell therapy activities and concentrate on transformational business development initiatives, including selective partnerships, in-licensing, and strategic acquisitions. See the press release issued on January 5, 2026.
To reflect this new direction, the Board proposes to change the Company name from Galapagos NV to Lakefront Biotherapeutics™ NV. The new name signals a forward-looking identity grounded in clarity, discipline, and ambition, and reflects the Company’s commitment to building a focused portfolio of breakthrough opportunities for patients while creating long-term value for stakeholders.
Rationale for change:
Strategic refocus: The name reinforces our transition away from cell therapy toward disciplined, value-driven business development to build a pipeline of differentiated, clinically validated candidates with the potential to be come meaningful medicines.
Future orientation: The new name also signals a renewed ambition to unlock unrealized potential through strategic collaborations, thoughtful capital deployment, and innovation in areas of high unmet patient needs.
Stakeholder clarity: The new identity clearly communicates our evolved purpose and focused strategic direction to create value for shareholders, patients, partners, and employees.
Resolution:
Shareholders are requested to approve the change of the Company’s name from Galapagos NV to Lakefront Biotherapeutics NV at the EGM.
For additional information on the agenda and proposed resolutions at the upcoming Annual General Meeting (AGM) and EGM of April 28, 2026, please refer to the shareholders’ section on the Galapagos corporate website.