Laurus Labs to buy 26% stake in cell therapy firm ImmunoACT for ₹46 cr.
The Hindu
Laurus Labs has signed an investment agreement with Immunoadoptive Cell Therapy Pvt. Ltd. (ImmunoACT) to acquire 26.62% stake in the advanced cell and gene therapy firm for a cash consideration of abo
Laurus Labs has signed an investment agreement with Immunoadoptive Cell Therapy Pvt. Ltd. (ImmunoACT) to acquire 26.62% stake in the advanced cell and gene therapy firm for a cash consideration of about ₹46 crore.
In addition, the senior management of Laurus Labs would invest in ImmunoACT to pick up a 5.64% stake for approximately ₹9.75 crore at the same price and terms, the drugmaker said on Friday.
CEO Satyanarayana Chava said the partnership with ImmunoACT, which has a portfolio of CAR-T therapy assets under various development stages for treatment of multiple auto immune diseases and oncology indications, would help bring innovative cell and gene therapy products to patients in India and other markets. “ImmunoACT has great leadership team with proven expertise in CAR-T technology and we are confident that these products will benefit patients with better outcomes,” he said.
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