Mankind Pharma Acquires 70% Stake in Belgian Biotech ACTx for €48M

Mankind Pharma has announced a major investment by acquiring a 70 percent stake in Armed Cell Therapeutics (ACTx), a Belgium-based biotechnology company, for €48 million. This deal marks a strategic move for Mankind Pharma as it expands into cutting-edge CAR-T cell therapies for cancer, signaling a new chapter in its ambition to become a global pharmaceutical innovator.

The acquisition will be executed through Mankind’s Netherlands subsidiary, giving the company access to ACTx’s sophisticated cell-therapy research platform. ACTx is currently developing therapies targeting difficult-to-treat cancers such as non-Hodgkin lymphoma and small-cell lung cancer, conditions that remain significant challenges in oncology.

This investment represents a shift from Mankind Pharma’s previous acquisition focus, which predominantly centered on strengthening its domestic pharmaceutical portfolio. Earlier moves included purchasing oncology and transplant brands from Panacea Biotec Pharma in 2022 and acquiring Bharat Serums and Vaccines (BSV) in 2024. The BSV deal notably broadened Mankind’s reach into fertility, women’s health, and complex biologics, while also increasing its international footprint.

With this latest acquisition, Mankind is moving beyond conventional pharmaceuticals and stepping into the realm of innovative cancer treatments. While the company has an established commercial presence in several European countries, including the UK, France, Germany, Spain, Belgium, and the Netherlands, its primary revenue still comes from the Indian market. As of the December 2025 quarter, exports contributed only 15 percent of consolidated revenue, according to the company’s investor presentation.

By investing in ACTx, Mankind is deepening its engagement in European biotechnology, moving from purely commercial operations to active research and development in advanced therapies. ACTx focuses on engineered CAR-T cells, a form of immunotherapy designed to overcome some of the key limitations of current treatments, such as relapse and drug resistance. Its research efforts span across Europe and the United States, reflecting a global approach to innovation.

Arjun Juneja, Chief Operating Officer of Mankind Pharma, emphasized the importance of innovation for the company’s future growth. He stated, "Innovation will be one of the defining growth engines for Mankind over the coming decades." Juneja added that the investment in ACTx offers access to unique scientific technologies and the potential to develop several next-generation CAR-T therapy candidates.

ACTx’s leadership team includes notable figures such as Paul Stoffels, former Chief Scientific Officer of Johnson & Johnson, and John Mellors, a professor at the University of Pittsburgh. Their expertise underpins the company’s efforts to develop novel cancer treatments based on engineered immune cells.

However, this investment carries inherent risks. CAR-T therapies are still largely experimental and require extensive clinical trials to prove their safety and effectiveness before they can be widely commercialized. The path from laboratory research to market availability is complex and uncertain, involving regulatory approvals and significant development costs.

Mankind Pharma’s move into biotechnology and advanced cancer therapies demonstrates its commitment to innovation and global growth. The company is positioning itself to participate in the rapidly evolving field of cell and gene therapies, which hold promise for transforming cancer treatment in the years ahead.

As the pharmaceutical industry increasingly focuses on personalized and targeted treatments, companies like Mankind are seeking to build capabilities beyond traditional drug manufacturing. This acquisition could provide Mankind with a competitive edge in the high-potential, yet challenging, field of cellular immunotherapies.

Overall, the €48 million investment in Armed Cell Therapeutics aligns with Mankind Pharma’s strategic vision to expand its research portfolio and enhance its presence in international biotech markets, while contributing to the development of therapies that could address unmet medical needs in oncology.