Shares of Mankind Pharma fell more than 2% on 16 October after the company announced that it has signed an agreement to acquire a 70% stake in Belgium-based biotechnology company Armed Cell Therapeutics (ACTx) for €48 million, approximately Rs 511 crore.
The deal marks Mankind Pharma’s entry into next-generation CAR-T cancer therapies as it looks to expand beyond its traditional pharmaceutical business and build a global research-driven portfolio.
The acquisition will be carried out in instalments through Mankind Pharma (Netherlands) B.V., its wholly owned subsidiary. To fund the transaction, Mankind Pharma’s board has approved an additional investment of up to €45 million in the subsidiary, taking its total approved investment limit to €50 million.
The move will give Mankind access to ACTx’s cell-therapy research platform and pipeline of experimental cancer treatments.
ACTx is developing next-generation chimeric antigen receptor T-cell, or CAR-T, therapies. These treatments modify a patient’s immune cells to help them identify and attack cancer cells.
The company’s lead programmes target non-Hodgkin lymphoma and small cell lung cancer. It is also exploring in vivo CAR-T technology, which aims to generate cancer-fighting T cells inside the patient’s body rather than modifying cells outside the body.
ACTx’s research and development teams operate across the United States and Europe. The company was founded by biotechnology and drug-development experts, including former Johnson & Johnson executive Paul Stoffels and University of Pittsburgh professor John Mellors.
Mankind Pharma said the investment would help it build a global pipeline of innovative therapies and strengthen its presence in complex treatment areas.
The acquisition follows the company’s earlier expansion into biologics through its purchase of Bharat Serums and Vaccines in 2024.
However, ACTx’s treatments remain under development, and their commercial success will depend on clinical progress, regulatory approvals and eventual market adoption.
At 11:55 am, the shares of Mankind Pharma were trading 2.31% lower at Rs 2,293.40 on NSE.
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