Galapagos Loses Potential Ticket To America As Crohns Trial Flops
The company reported the Phase III DIVERSITY trial of Jyseleca did not meet its primary endpoint in Crohn’s disease, closing another path to the US market.
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The Belgium-based biotech is transferring the rights to its only marketed product to Italy’s Alfasigma in a move aimed at cutting costs and tightening its focus on its early-stage immunology and oncology pipeline.
New chief financial officer Thad Huston said that Galapagos was evaluating “various strategic options for Jyseleca,” the company’s only revenue source, given that the landscape for the JAK class in Europe “has changed significantly over the past six months.”
Paul Stoffels is continuing his transformation of Galapagos into a company with CAR-T and small molecule platforms and is aiming to seal more M&A deals before the end of this year.