Laurus Labs has signed an investment agreement with Immunoadoptive Cell Therapy (ImmunoACT), 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 46.00 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.
This investment provides Laurus an 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 in bringing this novel technology to the Indian patients at a very affordable pricing.
Laurus Labs is a leading research and development driven pharmaceutical company in India. The company has grown consistently to become one of the leading manufacturers of APIs for anti-retroviral (ARV) and Hepatitis C. It also manufactures APIs in oncology and other therapeutic areas.