Mankind Pharma to acquire 70% in Belgium-based oncology player Armed Cell Therapeutics for Rs.511-Cr

NCR-based, publicly listed Mankind Pharma is to acquire a 70% stake in Belgium-based Armed Cell Therapeutics for Euro 48-M (INR 511-Cr). The acquisition will be executed through the company’s Netherlands-based subsidiary.Armed Cell Therapeutics is a biotechnology firm engaged in the development of engineered CAR-T cells designed to treat non-Hodgkin lymphoma and small-cell lung cancer. Mankind Pharma intends to use this investment to gain access to an advanced cell-therapy research platform and a pipeline of next-generation CAR-T candidates.