Lakefront Sells CAR-T Assets for €8M, Up to $230M

Lakefront Biotherapeutics has completed the sale of its early-stage, preclinical CAR-T cell therapy programs to Belgium-based Armed Cell Therapeutics, substantially concluding its planned wind-down of its legacy cell therapy business. The programs, originally based on technology from AboundBio, include engineered therapies intended to improve treatment potency and persistence and address resistance in blood cancers and solid tumors. Lakefront will receive €8 million upfront and could earn up to $230 million in development, regulatory and commercial milestones, plus low-single-digit royalties; the contingent payments depend on Armed Cell’s future development and sales. Lakefront says the divestiture supports its shift toward other pipeline priorities, including T-cell engager treatments.