Sun Pharma to invest $25-M in US-based Pharmazz Inc

Mumbai-headquartered Sun Pharmaceutical Industries is to invest USD 25 million in Illinois (USA)-based biopharmaceutical company Pharmazz Inc . The first tranche of USD 10 million would be invested on or before May 31, 2025. The second tranche of USD 15 million would be invested on or before November 30, 2025. Post deal, Sun Pharma will own a 22.7% stake in the target company.Pharmazz is developing two drug candidates: Sovateltide for the treatment of acute cerebral ischemic stroke, and Centhaquine for hypovolemic shock. Both products are approved in India and marketed through partners under brands, Tyvalzi (Sovateltide) and Lyfaquin (Centhaquine), besides being developed for the US and other markets, The company’s consolidated turnover for FY 2023-24 was USD 3 million.