Laurus Labs, a renowned pharmaceutical company, announced a significant development today. The company has finalized definitive agreements to acquire an additional stake of 7.24% in Immunoadoptive Cell Therapy Private Limited (ImmunoACT). The deal, valued at Rs. 80 Crore in cash, will strengthen Laurus Labs’ position in the advanced cell and gene therapy sector. Following the completion of the transaction, Laurus Labs’ stake in ImmunoACT will increase to 33.86% on a fully diluted basis.
In an effort to expand its presence in the rapidly evolving field of cell and gene therapy, Laurus Labs has taken a major step forward. The acquisition of an additional stake in ImmunoACT demonstrates the company’s commitment to accessing novel technologies and making them commercially viable, particularly in the areas of auto immune diseases and oncology.
This move will enable ImmunoACT to expedite the supply of its lead candidate, HCAR-19, and enhance the manufacturing capabilities of Chimeric Antigen Receptor T cells (CAR-T cells) treatment through the expansion of its multi-location GMP facilities.
Laurus Labs’ Acquisition of Immunoadoptive Cell Therapy Private Limited
Laurus Labs has solidified its position in the field of cell and gene therapy by acquiring an additional stake in ImmunoACT. The cash consideration of Rs. 80 Crore represents a significant investment in the future of advanced medical treatments. With this acquisition, Laurus Labs’ stake in ImmunoACT will rise to 33.86% on a fully diluted basis.
Benefits of the Acquisition
The acquisition of ImmunoACT by Laurus Labs brings forth several benefits for both companies and the patients they serve. By injecting fresh capital into ImmunoACT, the acquisition allows for the expedited supply of the lead candidate, HCAR-19. Moreover, it facilitates the expansion of ImmunoACT’s multi-location GMP facilities, which are crucial for the manufacturing of CAR-T cells. This enhanced manufacturing capacity will support the growing need for scalable production of these innovative therapies.
Involvement of Promoters and Senior Management
In addition to Laurus Labs’ acquisition, some of the company’s promoters and senior management will also acquire a 0.54% stake in ImmunoACT through secondary purchases. This investment further demonstrates their confidence in the potential of ImmunoACT and their dedication to driving advancements in the field of cell and gene therapy.
Previous Investment in ImmunoACT
Laurus Labs had previously invested in ImmunoACT in November 2021, which has since played a pivotal role in supporting the company’s growth and development. This earlier investment enabled ImmunoACT to establish a state-of-the-art GMP manufacturing facility and an advanced research and development (R&D) facility in Navi
About Laurus Labs:
Laurus Labs is a pharmaceutical and biotechnology company based in Hyderabad, India. It operates internationally and specializes in various areas such as active pharmaceutical ingredients, generic formulations, custom synthesis, biotechnology, veterinary APIs, and agrochemicals. The company was established in 2005 by Dr. Satyanarayana Chava.
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