India, Oct. 16 -- Mankind Pharma is set to acquire a 70 per cent stake in Belgium-based biotechnology company Armed Cell Therapeutics B.V. (ACTx) for 48 million euros, equivalent to approximately Rs 511 crore. The deal marks the pharmaceutical company's entry into next-generation CAR-T cancer therapies.
The acquisition will be completed in phases through Mankind Pharma (Netherlands) B.V., its wholly owned subsidiary, which has signed a definitive agreement for the transaction, according to a regulatory filing.
As part of the arrangement, Mankind Pharma's board has approved an additional investment of up to 45 million euros in its Netherlands-based subsidiary. This raises the total approved investment limit to 50 million euros, including t...