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Aurobindo Pharma to acquire business assets of Profectus BioSciences Inc., USA

Health Medical Pharma

Capital Market 

Through step down subsidiary Auro Vaccines LLC

Aurobindo Pharma announced that Auro Vaccines LLC, 100% subsidiary of Aurobindo Pharma USA Inc., which in turn is 100% subsidiary of the Company, has entered into a definitive agreement to acquire certain business assets from Profectus BioSciences Inc., USA., a clinical-stage vaccine development company.

The acquisition provides access to proprietary and innovative technology platforms for prophylactic use and therapeutic use along with Global R&D center. The acquisition will also lead to enhancement of R&D capabilities and expertise in developing newer vaccines from basic discovery research into FDA-approved product.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, November 28 2019. 18:19 IST