KBC ups Galapagos on Cocoon device potential, shares top AEX

Lakefront Biotherapeutics NV

01/08/2023 10:39

** Shares in Galapagos  GLPG.AS  rise about 4% after KBC
Securities upgraded the Dutch drug maker to "accumulate" from
"hold", citing potential in the company's Cocoon device used in
CAR-T cell therapy for treating cancer 
    ** KBC says the firm has entered the CAR-T race with an
alternative manufacturing model, which aims to produce CAR-Ts at
the point of care using the Cocoon automated manufacturing
platform for cell and gene therapies licensed from Lonza
 LONN.S  
    ** "The Cocoon is able to achieve a 7 day vein-vein time,
well ahead of the standard 2-6 weeks for centrally manufactured
CAR-Ts, and we see this point of care model as key in addressing
the scalability and supply challenges of existing CAR-Ts," KBC
says in a note
    ** The brokerage also notes Galapagos' effort in CD19 CAR-T
treatment in Non-Hodgkin's-lymphoma (NHL) and chronic
lymphocytic leukemia (CLL)
    ** "We believe going after de-risked CD19 is a good strategy
for fast proof of concept, and early phase 1/2 data in NHL and
CLL has shown promising results," KBC says
    ** The stock tracks best day in over 2 months
    ** Trades at the top of Amsterdam's AEX Index  .AEX  and
Brussels' BEL 20 Index  .BFX     
   

 (Reporting by Michal Aleksandrowicz)
 ((michal.aleksandrowicz@tr.com))