Paul Stoffels launches Armed Cell Therapeutics, acquires Galapagos CAR-T assets for ~ $240 million

Paul Stoffels, former J&J executive and ex‑CEO of Galapagos, has co‑founded a new Belgian biotech called Armed Cell Therapeutics.

The company announced a licensing deal to acquire the CAR‑T cell therapy assets that Galapagos placed into a spin‑out now known as Lakefront Biotherapeutics. The transaction is valued at just under $240 million in biobucks.

The deal ends a long‑running saga that began when Galapagos split its cell‑therapy portfolio in early 2025 under Stoffels’ leadership, only for him to be replaced later that year.

Armed Cell Therapeutics will now continue development of the CAR‑T programs, while Lakefront Biotherapeutics retains the rest of its pipeline.