Mankind Pharma has entered the cell- and gene-therapy segment to treat cancer by acquiring a European biotech company that has developed therapies for treating certain lymphomas and lung cancers.
The Mumbai-listed pharmaceutical major has acquired Armed Cell Therapeutics BV, a Belgium-incorporated biotechnology company developing CAR-T (chimeric antigen receptor T-cell) therapies for cancer. Mankind's subsidiary Mankind Netherlands will buy a 70% stake in Armed Cell for 48 million euros (Rs 513 crore or $54 million), according to a stock market disclosure.
The funds for this will come from Mankind's 50 million euro investment in the Netherlands subsidiary.
Towards this, Mankind will invest 45 million euros more in the subsidiary in addition to the previously approved investment of 5 million euros, raising the aggregate investment in Mankind Netherlands to 50 million euros.
Mankind said Armed Cell Therapeutics (ACTx) has a pipeline of "next-generation" CAR-T assets, with key programmes in non-Hodgkin lymphoma and small-cell lung cancer. The Belgian biotech company will pursue innovative CAR-T cell therapy including in vivo CAR-T cell generation.
“Innovation will be one of the defining growth engines for Mankind over the coming decades.
"This investment is the first step in building a global pipeline of breakthrough therapies," said Arjun Juneja, chief operating officer, Mankind Pharma Ltd.
Armed Cell Therapeutics was founded by former pharmaceutical executives and technocrats Paul Stoffels, John Mellors and Peter Verhaeghe. Armed Cell's CAR-T cells are designed to treat solid cancers that are difficult to penetrate. These CAR-T cells, developed by the company, are engineered with additional payloads to sustain their anti-tumor activity and target more than one cancer antigen, making it harder for cancer cells to escape.
The company also has operations in the Netherlands, research and pre-clinical operations in Pittsburgh, USA, and early development CAR-T cell therapy activities in Europe, Asia, and the US.
