Companies

Laurus Labs inks pact with ImmunoACT to acquire 26% stake for ₹46 cr

Our Bureau Mumbai | Updated on November 19, 2021

Additionally, senior management of Laurus Labs would also invest in ImmunoACT for a 5.64 per cent stake.

Laurus Labs has signed an investment agreement with Immunoadoptive Cell Therapy Private Limited (ImmunoACT), an advanced cell and gene therapy company, to acquire a 26.62 per cent stake (fully diluted basis) for ₹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 ₹9.75 crore at same price and terms, according to a stock exchange filing..

ImmunoACT was founded in 2018 under the aegis of IIT Bombay incubator, Society for Innovation and Entrepreneurship(SINE) by Dr. Rahul Purwar. ImmunoACT hasstrong global partnerships including Dr.Carl June, pioneer of CAR-T therapy as member of scientific advisory board. ImmunoACT has portfolio of CAR-T therapy assets under various development stages for the treatment of multiple auto immune diseases and oncology indications. The current promoters of ImmunoACT will continue to lead the management and operations of ImmunoACT.

Laurus labs investment in ImmunoACT is part of the larger strategy to strengthen biologics business of Laurus Labs and this provides access and entry into an emerging field of research, the company said.

CEO of Laurus Labs Dr. Satyanarayana Chava said, “we are very excited to partner with ImmunoACT to bring novel CAR-T therapy to patients in India and other markets at an affordable pricing. This partnership will help us in bringing 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”.

Published on November 19, 2021

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