Lakefront Biotherapeutics Plans 2027 Registrational Trials for Gamgertamig

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Lakefront Biotherapeutics said it plans to begin registrational studies next year for its lead T-cell engager, gamgertamig, in immune thrombocytopenia and autoimmune hemolytic anemia, with two additional autoimmune basket studies expected early that year. Speaking at Morgan Stanley's Global Healthcare Conference, Chief Executive Officer Henry Gosebruch said the company, previously known as Galapagos, has shifted focus from its legacy ex vivo CAR-T programs to a portfolio of four T-cell engager candidates following its acquisition of assets from Ouro Medicines in March. Gamgertamig is a BCMA-directed therapy that Gilead Sciences is expected to commercialize, with Lakefront receiving a royalty; Gilead contributed half of the Ouro deal consideration and about $5 billion to the company under a strategic alliance established in 2019 that has roughly three years remaining. Chief Financial Officer Aaron Cox said Lakefront expects to end the year with about €2 billion in cash, supported by Gilead funding, legacy royalties of approximately €15 million to €20 million annually related to Jyseleca, and tax-credit receipts of approximately €20 million to €35 million annually over the next several years. The company has largely completed the wind-down of its legacy cell-therapy operations, which had more than 650 employees and approximately $300 million in annual spending, and announced a €50 million share buyback in June that it expects to complete by year-end. The FDA has granted Orphan Drug Designation for gamgertamig in ITP, AIHA and pemphigus.

Impact on assets 3

Biotech & Genomic Medicine▲ · 3 stocks
LAKEFRONT BIOTHERAPEUTICS NV
LKFT
▲ PositiveCapitalTechnologyrelevance

Lakefront expects ~€2B year-end cash, Gilead funding, legacy royalties, tax credits, and a €50M buyback to be completed by year-end.

Gilead Sciences Inc
GILD
▲ PositiveDemandrelevance

Gilead is expected to commercialize gamgertamig and contributed half of the Ouro deal consideration plus ~$5B under the strategic alliance, giving it rights to a pipeline asset heading into 2027 registrational trials.

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