Lakefront Announces Sale of Preclinical CAR-T Programs to Armed Cell Therapeutics

What happened: Lakefront Biotherapeutics NV (Euronext & NASDAQ: LKFT) completed the sale of its early-stage cell therapy pipeline to Armed Cell Therapeutics BV, a Belgium-based biotechnology company. Why it matters: Lakefront says the sale gives the assets a path to advance for patients and offers shareholders potential benefit from future progress by Armed Cell Therapeutics. Lakefront states it continues with a pipeline of T-cell engagers and a strong cash balance.

Lakefront Biotherapeutics NV (Euronext & NASDAQ: LKFT) completed the sale of its early-stage cell therapy pipeline to Armed Cell Therapeutics BV, a Belgium-based biotechnology company.

Lakefront says the sale gives the assets a path to advance for patients and offers shareholders potential benefit from future progress by Armed Cell Therapeutics. Lakefront states it continues with a pipeline of T-cell engagers and a strong cash balance.