Laurus Labs acquires a small stake in cell and gene therapy company - ImmunoACT

In India, CAR-T therapy is not available and this collaboration will help them in bringing this novel technology to Indian patients at very affordable pricing.

Laurus Labs has signed an investment agreement with Immunoadoptive Cell Therapy Private Limited (ImmunoACT), an advanced cell and gene therapy company to acquire a 26.62 per cent stake (fully diluted basis) for a cash consideration of approximately Rs 46 crore, subject to the fulfilment of certain conditions. 

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

Strength of Investee: ImmunoACT was founded in 2018 under the aegis of IIT Bombay incubator, Society for Innovation and Entrepreneurship(SINE) by Dr Rahul Purwar. ImmunoACT has strong global partnerships including Dr Carl June, pioneer of CAR-T therapy as a member of the scientific advisory board. ImmunoACT has a portfolio of CAR-T therapy assets under various development stages for the treatment of multiple autoimmune diseases and oncology indications. The current promoters of ImmunoACT will continue to lead the management and operations of ImmunoACT.

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

At 3.30 PM, Laurus Labs closed at Rs 471, down by 2.29 per cent today