> Galapagos (AMS:GLPG) posted more impressive data on its rheumatoid arthritis drug, filgotinib. The data was generated in a second Phase IIb trial of the JAK1 inhibitor, which like its predecessor found the treatment significantly outperformed the placebo despite having a once-daily dosing schedule and dropping the use of methotrexate. A final 24-week analysis is scheduled for July or August, after which AbbVie ($ABBV) will decide whether to take up its $200 million (€179 million) upfront opt-in option. FierceBiotech
> Adaptimmune Therapeutics set terms for its upcoming IPO. The British immuno-oncology player is looking to sell shares for $15 to $17 a pop, the midpoint of which would net it $150 million (€135 million) before costs. With more than $100 million in the bank at the end of 2014, Adaptimmune is set to have a sizable pile of cash after the IPO. Adaptimmune has earmarked $140 million to advancing T cell receptor therapeutic candidates through preclinical and into human trials. F-1
> Innate Pharma (EPA:IPH) pocketed a $250 million (€224 million) upfront fee by licensing IPH2201 to AstraZeneca ($AZN). AstraZeneca is due to hand over another $100 million before Phase III, with a further $925 million linked to future milestones. Shares in Innate jumped almost 50% in the wake of the news, a figure many think would have been higher if the French biotech traded on Nasdaq. Such a listing is on the horizon. "I am a full partisan of doing a Nasdaq listing in time, and that time is getting closer," Innate's finance chief, Catherine Moukheibir, told EP Vantage. FierceBiotech | EP Vantage
> Can-Fite ($CANF) dug into the data from its recent Phase II/III psoriasis trial failure and found what it sees as reasons to continue development of the drug, CF101. While CF101 failed to outperform placebo after 12 weeks--the primary endpoint--Can-Fite found encouragement in the 32-week data. The Israeli biotech is now designing the protocol for the next clinical trial. Release
> Swedish Orphan Biovitrum (STO:SOBI) confirmed it has received a preliminary buyout proposal from an unnamed suitor. Biogen ($BIIB) and Pfizer ($PFE)--both of which have partnerships with Sobi--are reportedly in the running. A deal is probably still some way off, assuming it happens at all. Sobi has postponed its annual meeting from May 6 to June 30 "to be able to provide as much clarity as possible by the time of the meeting." FierceBiotech | More
> Seventure Partners' seed fund Quadrivium 1 led a €1.3 million ($1.4 million) investment in PEP-Therapy, a French cancer startup. PEP-Therapy is developing DPT-PEP1, a peptide drug it thinks can cause the death of cancer cells by blocking Caspase-9/PP2A protein/protein interaction. The cash--€300,000 of which was a personal investment from former Laboratoires Fournier CEO Bernard Majoie--will allow PEP-Therapy to run toxicology studies. Release