Lakefront Biotherapeutics NV (LKFT) Presents at Morgan Stanley 24th Annual Global Healthcare Conference Transcript

SA Transcripts 162.21K Followers Follow Lakefront Biotherapeutics NV ( LKFT ) Morgan Stanley 24th Annual Global Healthcare Conference September 15, 2026 5:35 PM EDT Company Participants Henry Gosebruch - CEO & Executive Director Eric Hedrick - Chief Medical Officer Aaron Cox - Chief Financial Officer Conference Call Participants Judah Frommer - Morgan Stanley, Research Division Presentation Judah Frommer Morgan Stanley, Research Division All right. Good afternoon, everyone. Welcome to the final fireside of day 2 at Morgan Stanley's Global Healthcare Conference. I'm Judah Frommer, one of the SMID biotech analysts here. We're very excited to have Henry, Aaron and Eric representing Lakefront. Let me just get through a quick disclosure before we get started. For important disclosures, please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. All right. With that, the team has been leading Lakefront through quite a transformation. So before we dive in, maybe give the audience an intro to the company and your focus since taking the helm last summer. Henry Gosebruch CEO & Executive Director Great. Well, we're delighted to be here and thanks for hosting us. So we're a clinical stage biopharmaceutical company now with a very exciting portfolio of T-cell engagers, with a lead program that is going to start registration studies next year and 4 programs in total and it was quite a journey to get here. So we started about 18 months ago. The company at that time, named Galapagos, had a portfolio that was built in ex vivo CAR-T. And we spent a couple of months analyzing that portfolio and went through a very thorough process analyzing strategic alternatives and ultimately determined that those programs were not commercially viable. We then negotiated with works councils and unions in Europe to get clearance to unwind that portfolio, which we did. So we had over 650 employees and about $300 million annual spend.