Galapagos Bets €225M On CellPoint Marking Its Entry Into CAR-T Field

Galapagos GLPG agreed to acquire CellPoint and AboundBio in an all-cash transaction propelling into next-generation cell therapy while significantly broadening its portfolio and capabilities.
Galapagos will pay an upfront amount of €125 million for CellPoint, an additional €100 million to be paid upon achieving certain milestones, and $14 million for AboundBio.
Galapagos said that, through the acquisition of CellPoint and AboundBio, it gains access to an automated point-of-care cell therapy supply model and a next-generation fully human antibody-based therapeutics platform.
Related: RBC Expects Business Development To Unlock This Pharma Stock's Balance Sheet Value.
The deal aims for three next-generation CAR-Ts to the clinic over the next three years.
CellPoint has developed a novel point-of-care supply model, which offers the potential for efficient, 7-day delivery of CAR-T therapies and avoids complex logistics.
The proprietary platform consists of CellPoint's end-to-end xCellit workflow management and monitoring software and Lonza Group's LZAGF Cocoon system, a closed, automated manufacturing platform for cell and gene therapies.
Price Action: GLPG shares are down 1.91% at $54.93 during the premarket session on the last check Wednesday.