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Laurus Labs to acquire 26.62% stake in Immunoadoptive Cell Therapy

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Laurus Labs has signed an investment agreement today with Immunoadoptive Cell Therapy (lmmunoACT), an advanced cell and gene therapy company to acquire 26.62% stake (fully diluted basis), subject to completion of conditions precedent, for a cash consideration of approximately Rs. 46 crore.

Additionally, senior management of Laurus Labs would also invest in ImmunoACT for a 5.64% stake for approximately Rs. 9.75 crore at same price and terms.

ImmunoACT was founded in 2018 under the aegis of liT Bombay incubator, Society for Innovation and Entrepreneurship (SINE) by Dr. Rahul Purwar. ImmunoACT has strong global partnerships including Dr. Carl June, pioneer of CART 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 lmmunoACT.

Laurus labs investment in ImmunoACT is part of the larger strategy to strengthen biologics business of Laurus Labs and this provides us access and entry into an emerging field of research. CAR-T therapy is very promising treatment option which has had great success in the western part of the world. In India, CAR-T therapy is not available and this collaboration will help us in bringing this novel technology to the Indian patients at a very affordable pricing.

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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: Fri, November 19 2021. 15:25 IST