Galapagos Receives Transparency Notification from EcoR1 Capital in Belgium

On 30 September 2024, Galapagos NV announced that it received a transparency notification from EcoR1 Capital LLC, which detailed its significant holdings in the company. The notification, dated 26 September 2024, revealed that EcoR1 Capital LLC, controlled by Mr. Oleg Nodelman, holds 7,094,049 voting rights, comprising 6,939,043 ordinary shares and 155,006 American Depository Receipts. This acquisition was facilitated by the conversion of financial instruments and additional purchases of shares. The notification is particularly noteworthy as it indicates that EcoR1 Capital LLC has crossed the 10% threshold of voting rights in Galapagos, a significant milestone that reflects the firm’s strategic investment approach. Prior to this, EcoR1 Capital LLC had converted 5,873,868 American Depository Receipts into ordinary shares, which contributed to this increase in voting rights. Furthermore, the notification specifies that the voting rights are beneficially owned by clients of EcoR1 Capital Fund Qualified LP and EcoR1 Capital Fund LP, which include various institutional investors. EcoR1 Capital LLC acts as the discretionary investment advisory manager, exercising voting rights at its discretion. This development underscores EcoR1 Capital LLC's growing influence in Galapagos, a company focused on addressing high unmet medical needs through innovative therapies. The transparency notification is part of compliance with Belgian legislation regarding major shareholdings, ensuring that such significant investments are disclosed to the market.