Hyderabad-based Laurus Labs to acquire minority stake in ImmunoACT
Hyderabad: Laurus Labs has signed an investment agreement with Immunoadoptive Cell Therapy Private Limited (ImmunoACT), an advanced cell and gene therapy company to acquire 26.62 per cent stake (fully diluted basis) for a cash consideration of approximately Rs 46 crore, subject to the fulfilment of certain conditions. Additionally, senior management of Laurus Labs would also […]
Hyderabad: Laurus Labs has signed an investment agreement with Immunoadoptive Cell Therapy Private Limited (ImmunoACT), an advanced cell and gene therapy company to acquire 26.62 per cent stake (fully diluted basis) for a cash consideration of approximately Rs 46 crore, subject to the fulfilment of certain conditions.
Additionally, senior management of Laurus Labs would also invest in ImmunoACT for a 5.64 per cent stake for approximately Rs 9.75 crore at the same price and terms.
ImmunoACT was founded in 2018 under the aegis of IIT Bombay incubator, Society for Innovation and Entrepreneurship (SINE) by Dr Rahul Purwar. It has global partnerships including Dr Carl June, pioneer of CAR-T (Chimeric Antigen Receptor-T Cell) therapy as member of scientific advisory board.
ImmunoACT has a portfolio of CAR-T therapy assets under various development stages for the treatment of multiple auto-immune diseases and oncology indications. The current promoters will continue to lead the management and operations of the company.
Laurus Labs said its investment in ImmunoACT is part of the larger strategy to strengthen the biologics business and provides access and entry into an emerging field of research. CAR-T therapy is a promising treatment option which has shown success in the western part of the world.
In India, CAR-T therapy is not available, and this collaboration will help Laurus in bringing this novel technology to the Indian patients.
Commenting on this development, Laurus Labs CEO Dr Satyanarayana Chava said, “This partnership will help us in bringing innovative cell and gene therapy products to patients in India and other markets.”
Dr Rahul Purwar, CEO of ImmunoACT said, the partnership between ImmunoACT and Laurus Labs will provide strategic thrust to the company’s ambitions to establish innovative opportunities in the healthcare industry through new age Cell and Gene based therapies.
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