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Laurus Labs signs pact to acquire 26.62 % stake in ImmunoACT

Laurus labs investment in ImmunoACT is part of the larger strategy to strengthen biologics business of the firm

Laurus Labs | Merger and Acquisition | Cell therapy

Press Trust of India  |  Hyderabad 

Labs, Science, Laurus

: on Friday said it has signed an investment agreement with Immunoadoptive Private Limited (ImmunoACT), an advanced cell and gene therapy company, to acquire 26.62 per cent stake on fully diluted basis for about Rs 46 crore.

A press release from the city-based drug maker said additionally, senior management of would also invest in ImmunoACT for a 5.64 per cent stake for approximately Rs. 9.75 crore at same price and terms.

investment in ImmunoACT is part of the larger strategy to strengthen biologics business of the firm and it provides access and entry into an emerging field of research.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, November 19 2021. 21:53 IST