VBB advised leading Indian pharmaceutical company Mankind Pharma on its strategic EUR 48 million acquisition of 70% of the shares in Armed Cell Therapeutics (ACTx) and ACTx’s acquisition of preclinical CAR-T programmes from Lakefront Biotherapeutics.

The purchase price for the assets includes an upfront payment of approximately EUR 8 million, with potential milestone payments of up to USD 230 million and a low-single-digit royalty to Lakefront.

ACTx is headquartered in Belgium, with operations in the Netherlands, research and preclinical operations in Pittsburgh, USA, and early development CAR-T cell therapy activities in Europe, Asia and the United States.

The VBB team comprised partner Michel Bonne and associates David de Bok and Seppe Jansegers, supported by colleagues from the employment and commercial teams.