Other Private Equity/Strategic Investments
Laurus Labs invests Rs.80-Cr more in gene therapy firm ImmunoACT for addnl 7% stake
Hyderabad-based, publicly listed Laurus Labs has invested a further INR 80 crore in Mumbai-headquartered Immunoadoptive Cell Therapy Pvt Ltd (lmmunoACT), which is developing an affordable CAR T-cell therapy for curing specific types of blood cancers. Laurus will get an additional stake of 7.24% in ImmunoACT, as part of Series-B funding. Post the completion of the funding round, Laurus' stake in ImmunoACT will increase to 33.86% on a fully diluted basis. The fresh infusion of capital will enable ImmunoACT to fast-track the scale-up of its lead candidate HCAR-19 by expansion of the multi-location cGMP facilities and R&D of new product pipeline. In November 2021, Laurus picked 26.62% stake in ImmunoACT for INR 46 crore in cash.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
