Paul Stoffels, Galapagos CEO (Michael Kovac/Getty Images)

Gala­pa­gos CEO Paul Stof­fels bets €225M on a new CAR-T strat­e­gy for the long suf­fer­ing biotech

The deeply trou­bled Eu­ro­pean biotech Gala­pa­gos and its new CEO Paul Stof­fels are go­ing the CAR-T route, and they have a new, €225 mil­lion buy­out de­signed to give them an in­side track over the first-gen ther­a­pies that have made their way in­to the mar­ket.

Just weeks af­ter ink­ing an ex­clu­sive li­cens­ing pact for an an­ti-BC­MA CAR-T out of Chi­na, Dutch biotech Cell­Point has struck a deal to sell the com­pa­ny to Gala­pa­gos, with €125 mil­lion com­ing in cash and an­oth­er €100 mil­lion on the ta­ble for po­ten­tial mile­stones.

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