Lakefront Biotherapeutics co-opts former Boehringer executive Mehdi Shahidi to its board
Lakefront Biotherapeutics announced on November 2, 2026, the co-optation of Mehdi Shahidi as independent non-executive director, effective the same day. The physician-researcher fills a seat left vacant in July 2026 by a director who left to join Sanofi.
A physician-researcher formerly with Boehringer Ingelheim and CureVac
The appointment was made public on November 2, 2026, at 10:01 p.m. from Mechelen (Belgium) by Lakefront Biotherapeutics NV, listed on Euronext and on the Nasdaq under the symbol LKFT. It takes the form of a co-optation within the board of directors.
Mehdi Shahidi has more than 20 years of experience in biopharmaceuticals, from translational research to clinical development and regulatory affairs. He is currently Head of Development and Chief Medical Officer of Ottimo Pharma, Venture Partner at Medicxi, and one of the founders of Petalion Therapeutics.
He previously served as Senior Vice President, Global Head of Medicine and Chief Medical Officer of Boehringer Ingelheim, where he led a global organization with an extended therapeutic scope. He also sat on the supervisory board of CureVac until its acquisition by BioNTech.
He has also participated in the innovation committees of EFPIA and TransCelerate, as well as in the PhRMA R&D Leadership Forum. A clinical oncologist, he trained in oncology at the Royal Marsden Hospital and conducted clinical research at the Institute of Cancer Research in London.
He succeeds Paulo Fontoura, who left for Sanofi in July 2026
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Mehdi Shahidi replaces Paulo Fontoura, who resigned from the board in July 2026 following his appointment as Global Head of R&D at Sanofi SA. According to Gino Santini, Chairman of the Board of Directors, his experience should strengthen the board's ability to steer Lakefront's strategy.
The Chairman places this appointment in the context of the continued development of gamgertamig, a BCMAxCD3 T-cell engager intended for autoimmune diseases, and of the group's preclinical assets. He mentions maintaining a disciplined approach to the deployment of the company's strategic capital.
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
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.
