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Updated on: Friday, November 19, 2021, 04:53 PM IST

Laurus Labs to acquire minority stake in cell, gene therapy firm, ImmunoACT

Senior management of the drug firm would invest in the Mumbai-based ImmunoACT for a 5.64 per cent stake for around Rs 9.75 crore at the same price and terms. /Representative image | (Xinhua/File)

Senior management of the drug firm would invest in the Mumbai-based ImmunoACT for a 5.64 per cent stake for around Rs 9.75 crore at the same price and terms. /Representative image | (Xinhua/File)

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Laurus Labs on Friday said it has inked a pact to acquire 26.62 per cent stake in Immunoadoptive Cell Therapy (ImmunoACT), an advanced cell and gene therapy company, for cash consideration of around Rs 46 crore.

Additionally, senior management of the drug firm would invest in the Mumbai-based ImmunoACT for a 5.64 per cent stake for around Rs 9.75 crore at the same price and terms.

''This partnership will help us in bringing innovative cell and gene therapy products to patients in India and other markets. 'ImmunoACT has a great leadership team with proven expertise in CAR-T technology and we are confident that these products will benefit patients with better outcomes,'' Laurus Labs CEO Satyanarayana Chava said in a statement.

ImmunoACT was founded in 2018 under the aegis of IIT Bombay incubator, Society for Innovation and Entrepreneurship (SINE) by Rahul Purwar. ImmunoACT has a portfolio of CAR-T (chimeric antigen receptor T cell) therapy assets under various development stages for the treatment of multiple autoimmune diseases and oncology indications.

The current promoters of ImmunoACT will continue to lead the management and operations of the firm. ''The partnership between ImmunoACT and Laurus Labs will provide strategic thrust to our ambitions to establish innovative opportunities in the healthcare industry through new age Cell and Gene based therapies,'' ImmunoACT CEO Rahul Purwar noted.

(With PTI inputs)

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Published on: Friday, November 19, 2021, 04:53 PM IST
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