Galapagos Enters Cancer Field With CellPoint Buy
Deal Snapshot: CEO Stoffels delivered on a recent promise to bring in mid-stage assets, acquiring a firm with a Phase I/IIa CAR-T therapy program for €125m ($131.6m) up front.
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Pharma veteran Paul Stoffels, the new CEO of Galapagos, is not thinking about using the Belgian biotech’s cash pile to buy Phase III drugs but is open to licensing deals with US firms who have drugs approved at home and are looking for a European partner.
The troubled Belgian biotech has pulled off a major coup in hiring Paul Stoffels, the architect of J&J's R&D successes over the last decade, as its new CEO.
The Basel-based major has swooped to buy fellow Swiss group Arctos in the belief that optogenetics is a promising therapeutic approach that might restore sight to patients who are legally blind.