Galapagos to acquire CellPoint and AboundBio to accelerate access
to next-generation cell therapies
- Potential for paradigm
shift in CAR-T therapy
with CellPoint’s
decentralized point-of-care
manufacturing
model, in
partnership with
Lonza, and
AboundBio’s
cutting-edge fully human
antibody-based
capabilities, providing
a platform of
next-generation CAR-Ts
and bispecific
antibodies
- Clinical validation of
decentralized production platform with
CD19 CAR-T in 2
Phase 1/2a
studies in
relapsed/refractory
Non-Hodgkin’s-Lymphoma
(rrNHL)
and Chronic Lymphocytic
Leukemia
(rrCLL)
ongoing, with
topline results expected
in H1
2023
- Positions
Galapagos in
next-generation cancer therapy
market and
significantly
broadens portfolio and capabilities
- All cash
acquisition of CellPoint
for an upfront
amount of €125
million, with
milestone payments up to
€100 million and
AboundBio for
$14
million
Webcast
presentation tomorrow,
Wednesday, 22
June 2022, at
14.00 CET / 8 AM ET,
www.glpg.com
Mechelen, Belgium,
Leiden, the Netherlands, Pittsburgh, Pennsylvania, United
States; 21 June 2022,
22.01
CET; regulated information – Galapagos NV
(Euronext & NASDAQ: GLPG), CellPoint
and AboundBio today announced
that both companies
have entered into
definitive
agreements with
Galapagos, propelling
Galapagos
into
next-generation cell
therapy while
significantly broadening its
portfolio and capabilities.
Through the acquisition of CellPoint and
AboundBio, respectively, Galapagos gains access to an innovative,
scalable, decentralized and automated point-of-care cell therapy
supply model as well as a next-generation fully human
antibody-based therapeutics platform. Combined and supported by
Galapagos as a fully integrated biopharma, they have the potential
to disrupt the CAR-T treatment paradigm. The goal is to expand the
current market for CAR-T therapies and have an important impact on
patients in need of additional and improved treatment options.
CellPoint has developed, in a strategic
collaboration with Lonza, a novel point-of-care supply model, which
offers the potential for efficient, 7-day delivery of CAR-T
therapies and avoids complex logistics, thereby addressing
important limitations of current CAR-T treatments. The proprietary
platform consists of CellPoint’s end-to-end xCellit workflow
management and monitoring software and Lonza’s Cocoon® system, a
closed, automated manufacturing platform for cell and gene
therapies.
Clinical studies with the CellPoint
decentralized supply model have been approved by regulatory
authorities in Belgium, Spain, and the Netherlands. Two Phase 1/2a
studies in rrNHL and rrCLL with a CD19 CAR-T product candidate are
currently ongoing with topline results expected in the first half
of 2023, providing the opportunity for a rapid clinical validation
of the CAR-T point-of-care supply model. In a next step, the aim is
to leverage CellPoint’s platform for novel CAR-Ts originating from
AboundBio’s unique fully human antibody-based library and
biological drug discovery and engineering capabilities, with the
goal of bringing three additional differentiated, next-generation
CAR-T candidates in the clinic over the next three years.
“With the transactions announced today, we
position ourselves as a potential innovator in CAR-T, while
building a strong foundation from which we can drive continued
innovation for patients with advanced cancers who are in need of
new treatment options. Our goal is to bring three differentiated,
next-generation CAR-T candidates into the clinic over the next
three years,” said Paul Stoffels1, MD, CEO of Galapagos. “This is a
first key step in our strategic transformation to accelerate and
diversify our pipeline with the aim to create short- and long-term
value through focused external growth. We continue to explore
additional business development opportunities to further leverage
our internal capabilities and renew our portfolio, and we expect to
communicate a detailed update on our corporate strategy and
portfolio later this year. With the support of our collaboration
partner Gilead, we warmly welcome the CellPoint and AboundBio teams
to Galapagos, and together we look forward to potentially bringing
transformational medicines to patients worldwide.”
“We are excited to become part of Galapagos to
accelerate the development, commercialization and scale-up of our
cutting-edge vein-to-vein CAR-T delivery model. Despite the
progress with current CAR-T therapies, long lead times, highly
manual central manufacturing, and complex logistics remain the
limiting factors for large-scale capacity and broad patient access.
Our novel decentralized manufacturing and supply model is designed
to address these limitations and deliver CAR-T cells at
point-of-care, in or near the hospital, thereby offering the
potential to significantly shorten time to treatment to one week as
compared to the current industry standard of over a month,” added
Dr. Tol Trimborn, co-founder and CEO of CellPoint.
“We are thrilled to join Galapagos to accelerate
our research and realize the full potential of our innovative
science. Our next-generation of fully human, multi-paratopic and
multi-specific CAR-T constructs offer the potential for deeper,
more durable responses to treatment as well as retreatment for
relapse following previous CAR-T cell therapy. Combined with
CellPoint’s decentralized point-of-care delivery model, we aim to
broaden patient access and ultimately change patients’ lives. We
are impressed by the leadership and expertise at Galapagos and look
forward to our exciting journey ahead”, concluded John Mellors, MD,
CEO of AboundBio.
Benefits of the
transactionNear-to-mid-term product opportunity
- Generating clinical data to validate decentralized
manufacturing supply model with CD19 CAR-T for rrNHL/rrCLL
- Aim for three next-generation CAR-Ts to the clinic over the
next three years
Pipeline and complementary technology platforms
to drive future growth
- Reinforcing current portfolio with new therapeutic area
- Adding fully human antibody-based capabilities and new drug
modalities with broad scope
Positions Galapagos as an innovator in cell
therapy
- Opportunity to deliver life-saving
medicines more efficiently, and to more patients
- Be at the forefront of scientific
and medical innovation
- Potential to leverage insights and
capabilities of collaboration partner Gilead, who retains option
rights to new programs
Transaction terms
Under the terms of the agreements, Galapagos is
to acquire all outstanding shares of CellPoint and AboundBio in an
all-cash transaction against payment of an upfront amount of €125
million for CellPoint, with an additional €100 million to be paid
upon achievement of certain milestones, and against payment of an
amount of $14 million for AboundBio. The transactions have been
fully executed and the acquisitions were consummated earlier
today.
Webcast presentation
Management will host a webcast presentation with
Q&A tomorrow, Wednesday 22 June 2022, at
14:00 CET / 8 AM ET. The live webcast can be
accessed on the investors section of the Galapagos website, and a
replay will be made available shortly after the close of the
call.
About GalapagosGalapagos is a
fully integrated biotechnology company focused on discovering,
developing and commercializing innovative medicines. We are
committed to improving patients’ lives worldwide by targeting
diseases with high unmet needs. Our R&D capabilities cover
multiple drug modalities, including small molecules and cell
therapies. Our portfolio comprises discovery through to Phase 3
programs in inflammation, oncology, fibrosis, and other
indications. Our first medicine for rheumatoid arthritis and
ulcerative colitis is approved and available in Europe, Great
Britain and Japan. For additional information, please visit
www.glpg.com or follow us on LinkedIn or Twitter.
About
CellPointCellPoint is dedicated to developing
CAR-T therapies at the point-of-care, making these therapies more
affordable and accessible to patients. CellPoint has developed a
6-day manufacturing process, powered by its proprietary xCellit
real-time monitoring software system, that allows for 1 week
vein-to-vein time compared to over one month with current industry
manufacturing platforms. A first proprietary CD19 CAR-T
investigational therapy is currently in Phase1/2a trials to provide
fast clinical validation of the decentralized point-of-care
production model. CellPoint is privately held with +ND Capital as
sole venture capital investor. More information at
www.cellpoint.bio.
About
AboundBioAboundBio is an innovative privately held
biotechnology company whose mission is to generate novel
antibody-based biological therapeutics for cancers of unmet medical
need. AboundBio's industry-leading fully human antibody libraries
offer size, diversity and developability advantages that
incorporate different binder formats, including VH domains, scFvs
and Fabs2, into appropriate therapeutic platforms, including CAR-T
cells, which are supported by multiple industry collaborations.
Initial seed funding and support for AboundBio were provided by
UPMC Enterprises, the innovation, venture capital and
commercialization arm of leading health system UPMC. More
information at www.aboundbio.com.
This press release contains inside information
within the meaning of Regulation (EU) No 596/2014 of the European
Parliament and of the Council of 16 April 2014 on market abuse
(market abuse regulation).
ContactInvestors:Sofie
Van GijselHead of Investor Relations+1 781 296 1143
Sandra CauwenberghsDirector Investor Relations+32 495 58 46
63ir@glpg.com
Media:Marieke VermeerschHead of Corporate
Communication+32 479 490 603media@glpg.com
Forward-looking statements
This press release includes forward-looking
statements, all of which involve certain risks and uncertainties.
These statements are often, but are not always, made through the
use of words or phrases such as “potential,” “expect,” “will,”
“goal,” “next,” “potential,” “aim,” “explore,” “forward,” “future,”
and “believes” as well as similar expressions. Forward-looking
statements contained in this release include, but are not limited
to, statements regarding the acquisition of CellPoint and
AboundBio, including statements regarding the anticipated benefits
of the acquisition and the integration of CellPoint and AboundBio
into Galapagos’ portfolio and strategic plans, statements regarding
the global R&D collaboration with Gilead, statements regarding
potential future milestone payments, statements regarding
Galapagos’ strategic R&D plans, including progress on
Galapagos’ point-of-care solution platform, and potential changes
of such plans, statements regarding our pipeline and complementary
technology platforms driving future growth, statements regarding
Galapagos’ regulatory and R&D outlook, statements regarding the
expected timing, design and readouts of ongoing and planned
clinical trials, including recruitment for trials and topline
results for trials and studies in CAR-T, statements relating to the
build-up of Galapagos’ commercial organization, statements and
expectations regarding commercial sales, and statements regarding
Galapagos’ strategy, business plans, portfolio and focus. Any
forward-looking statements in this release are based on Galapagos
management’s current expectations and beliefs and are not
guarantees of future performance. Forward-looking statements
involve known and unknown risks, uncertainties and other factors
which might cause Galapagos’ actual results, performance or
achievements to be materially different from any historic or future
results, performance or achievements expressed or implied by such
forward-looking statements. Such risks include, but are not limited
to, the inherent risks and uncertainties associated with target
discovery and validation and drug discovery and development
activities, the inherent risks and uncertainties associated with
competitive developments, clinical trial and product development
activities and regulatory approval requirements, risks related to
Galapagos’ reliance on collaborations with third parties
(including, but not limited to, Galapagos’ collaboration partner
Gilead), the risk that Galapagos will not be able to continue to
execute on its currently contemplated business plan and/or will
revise its business plan, including the risk that Galapagos’ plans
with respect to CAR-T may not be achieved on the currently
anticipated timeline or at all, the risk that Galapagos’ estimates
of the commercial potential of its product candidates and its
expectations regarding the costs and revenues associated with the
commercialization rights to may be incorrect, risks related to the
acquisition of CellPoint and AboundBio, including the risk that
Galapagos may not achieve the anticipated benefits of the
acquisition of CellPoint and AboundBio, risks related to the global
R&D collaboration with Gilead, risks related to potential
disruptions in our operations due to the conflict between Russia
and Ukraine, risks and uncertainties relating to the impact of the
ongoing COVID-19 pandemic, as well as those risks identified in
Galapagos’ filings and reports with the Securities and Exchange
Commission (SEC), including in Galapagos’ most recent annual report
on Form 20-F filed with the SEC and other filings and reports filed
by Galapagos with the SEC. Given these risks and uncertainties, the
reader is advised not to place any undue reliance on such
forward-looking statements. In addition, even if Galapagos’
results, performance or achievements are consistent with such
forward-looking statements, they may not be predictive of results,
performance or achievements in future periods. These
forward-looking statements speak only as of the date of publication
of this release. Galapagos expressly disclaims any obligation to
update any such forward-looking statements in this release unless
required by law or regulation.
1 Acting via Stoffels IMC BV2 VH: heavy chain
variable domain; scFvs: single chain variable fragments; Fab:
fragment antigen-binding
- Galapagos to acquire CellPoint and AboundBio to accelerate
access to next-generation cell therapies
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