India-based Mankind Pharma, through its Netherlands subsidiary, will acquire a majority stake in Armed Cell Therapeutics, marking the company’s strategic entry into next-gen CAR-T therapy.
Per the deal, Mankind will invest ~$54 million (EUR 48 million) for 70% stake in Armed Cell Therapeutics and its pipeline of preclinical CAR-T assets, with lead programs in non-Hodgkin lymphoma and small cell lung cancer.
The deal comes just one day after Armed Cell paid $9 million to pick up the preclinical cell therapy pipeline from Lakefront Biotherapeutics (formerly Galapagos). The pipeline is comprised of multi-targeting and armed CAR-T constructs designed to improve the potency and persistence of CAR-Ts and prevent cancer treatment resistance in hematological and solid tumors of high unmet need.
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