Mankind Pharma has agreed to acquire a 70% stake in Belgium-based biotechnology company Armed Cell Therapeutics (ACTx) for €48 million, marking its entry into next-generation CAR-T cancer therapies as it looks to expand its research and development business globally.
The investment will be made through its Netherlands-based subsidiary, Mankind Pharma (Netherlands) B.V., under a definitive agreement between the two companies.
The acquisition gives Mankind access to ACTx’s research platform and its pipeline of experimental cancer treatments. The move marks a shift in the company’s acquisition strategy, which has largely focused on expanding its pharmaceutical business in India. Its earlier acquisitions include oncology and transplant brands from Panacea Biotec Pharma in 2022 and Bharat Serums and Vaccines (BSV) in 2024.
CAR-T therapy uses a patient’s own immune cells, T-cells, modified to recognise and attack cancer cells. While the treatment has shown promise against some blood cancers, patients can relapse if the modified cells stop working effectively or cancer cells develop resistance. Treating solid tumours remains more challenging.
ACTx is developing newer CAR-T therapies designed to make these immune cells more effective and help them fight cancer for longer. Its approach also aims to target multiple markers on cancer cells, making it harder for tumours to escape treatment. The company is exploring ways to produce CAR-T cells inside the patient’s body, rather than modifying them outside the body before returning them.
Its main research programmes target non-Hodgkin lymphoma, a type of blood cancer, and small cell lung cancer, an aggressive form of lung cancer with limited treatment options.
The therapies are still experimental and will need further testing to establish their safety and effectiveness before they can be made available to patients.
“Innovation will be one of the defining growth engines for Mankind over the coming decades,” said Arjun Juneja, Chief Operating Officer of Mankind Pharma. He said the investment would help the company build a global pipeline of new therapies, with the long-term aim of making them more accessible to patients in India and worldwide.
Mankind already sells its products in European markets, including the UK, France, Germany, Spain, Belgium and the Netherlands. However, its business remains largely focused on India. Exports accounted for 15% of its consolidated revenue in the December 2025 quarter, according to its investor presentation.
Published on October 15, 2026
