Galapagos Acquires CellPoint And AboundBio

(RTTNews) - Galapagos agreed to acquire all outstanding shares of CellPoint and AboundBio in an all-cash transaction against payment of an upfront amount of 125 million euros for CellPoint, with an additional 100 million euros 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 Tuesday.

Galapagos said that, through the acquisition of CellPoint and AboundBio, it gains access to an automated point-of-care cell therapy supply model as well as a next-generation fully human antibody-based therapeutics platform.