Mankind Pharma to acquire a 70% stake in CAR-T developer Armed Cell Therapeutics for about €48 million
- Mergers & acquisitions
- Pharmaceuticals
Mankind Pharma Limited has told the exchanges that its board, at a meeting on 15 Oct 2026, approved an additional investment of up to €45 million in its wholly owned Netherlands subsidiary, Mankind Pharma (Netherlands) B.V., in one or more tranches. That raises the aggregate investment limit to €50 million, including the €5 million approved earlier.
The board also approved the acquisition of a 70% stake in Armed Cell Therapeutics B.V. (ACTx) through the Netherlands subsidiary. ACTx is a Belgium-incorporated biotechnology company developing next-generation CAR-T cell therapies for cancer, with lead programmes targeting non-Hodgkin lymphoma and small cell lung cancer. The company will use about €48 million, in instalments, to invest in ACTx for the 70% stake, all in cash.
The Netherlands subsidiary was incorporated on 13 Aug 2026 and has no turnover yet, and the filing describes ACTx's operations as development-stage. Mankind says the deal marks its strategic entry into next-generation CAR-T therapies and fits its plan to build niche therapies either through joint ventures or by acquiring them.
Inference
For shareholders, the filing shows a commitment of up to €50 million into a development-stage cancer therapy business, with about €48 million of it going into ACTx in instalments. Drugs of this kind take years of trials to reach the market, and none of the programmes is described as approved.
The filing does not give ACTx's revenue, since a development-stage company usually has none, or the timeline for its trials. Investors may want to follow the stages of the investment, ACTx's trial progress and how Mankind reports the spending in later results.
Reference: Original filing (PDF)
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