Gene therapy co ImmunoACT to sell 27% stake to Laurus Labs for Rs.46-Cr

Hyderabad-based, publicly listed drug firm Laurus Labs is to acquire a 26.62% stake in Immunoadoptive Cell Therapy (ImmunoACT), an advanced cell and gene therapy company, for around INR 46 crore in cash. Additionally, senior management of Laurus Labs would invest INR 9.75 crore in the Mumbai-based ImmunoACT for a 5.64 % stake at the same price and terms. The current promoters of ImmunoACT will continue to lead the management and operations of the firm. ImmunoACT was founded in 2018 under the aegis of IIT-Bombay incubator, Society for Innovation and Entrepreneurship (SINE), by Rahul Purwar. It 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.