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.
With the clock ticking down to the Lok Sabha election counting day on Tuesday, opposing fronts are perceptibly edgy and poised to continue the rancorous skirmishing that marked the campaign season in Kerala. The United Democratic Front, led by the Congress, is seemingly basking in the “interim victory” granted by various exit polls. The UDF discerns that its poll strategy of turning the polls foremostly into a damning referendum on the Left Democratic Front government’s perceived failures rather than BJP’s “divisive politics” at the national level stood a fighting chance of paying off.