Lakefront Biotherapeutics Appoints Eric Hedrick as Medical Director
Lakefront Biotherapeutics announced on Monday the appointment of Eric Hedrick, MD, as Medical Director. This new role is part of the strategic restructuring of the group following its acquisition of the operational assets of Ouro Medicines concluded on June 4.
Eric Hedrick brings to Lakefront a 25-year history in the development of effective and commercially viable therapies within the pharmaceutical and biotechnological industry. Prior to joining Lakefront in July 2025 as head of clinical evaluation of new portfolio opportunities, he held positions as Chief Medical Officer at EQRx, Senior Advisor and Interim Medical Director at BeiGene, Medical Director at Epizyme, and Interim Medical Director at Pharmacyclics. He began his biotechnology career at Genentech and earned his medical degree from the University of Maryland, before serving as an assistant physician at the Memorial Sloan Kettering Cancer Center.
Integration into the Executive Committee
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Eric Hedrick will join Lakefront's management committee and will report directly to Henry Gosebruch, the group's CEO. 'Eric has proven to be an invaluable addition over the past year, leading our clinical evaluations and collaborating with our external colleagues,' said Henry Gosebruch. 'The Ouro portfolio is now the cornerstone of Lakefront’s R&D pipeline and I am thrilled to have a talented and experienced drug developer like Eric to guide the development of gamgertamig and our future clinical programs.'
SectorPharmacie et biotechnologies›Biotechnologies
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 18,6 millions d'euros
Quarterly revenue: 18,6 millions d'euros
Revenue growth: -86,7 %
Net income: 16,6 millions d'euros
Guidance from the release
Maintain year-end 2026 cash guidance of ~€2B, forecast at least €1.6B remaining after portfolio funding
Risks mentioned
Wind-down of cell therapy activities remains ongoing with completion expected by Q3 2026, representing significant portfolio contraction and operational disruption
Collaboration revenues declined 96% year-over-year to €4.5M (from €121.8M in H1 2025) due to full deferred revenue recognition from Gilead platform agreement in 2025
Heavy dependence on gamgertamig development success and regulatory approval timeline; clinical development delays or unfavorable data could materially impact capital allocation and company viability
Opportunities identified
Acquisition of Ouro Medicines completed in June 2026, combining Lakefront and Gilead teams to accelerate gamgertamig development with expected additional proof-of-concept basket studies in autoimmune indications during 2027
Gamgertamig has received Fast Track and Orphan Drug Designation from FDA for AIHA and ITP, with registrational studies expected to commence in 2027
Lakefront maintains strong capital position with €2.24B in cash and investments as of June 30, 2026, providing substantial dry powder (€1.6B minimum) for strategic transactions after portfolio funding to first approval
Outlook / guidance
Expected revenue: 2 013 millions d'euros
Management commentary: Maintain year-end 2026 cash and financial investments balance guidance of ~€2B, and now includes €50M share repurchase. Lakefront forecasts having at least €1.6 billion of its cash remaining for additional strategic transactions and other capital allocation priorities.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
