Laurus Labs: Laurus Labs acquires 7.24% stake in ImmunoAct for Rs 80 crore – Times of India

Hyderabad: Pharma player Laurus Labs Ltd on Wednesday said it has entered into definitive agreements to acquire an additional 7.24% stake in ImmunoAdaptive Cell Therapy Pvt Ltd (lmmunoACT), an advanced cell and gene therapy player, for a cash consideration of Rs 80 crore.
The latest deal will see the Hyderabad-based company’s stake in Immunoact rise to 33.86% on a fully diluted basis.
Furthermore, some of the promoters and senior management of Laurus Labs Another 0.54% stake in ImmunoACT will be acquired for approximately Rs 4 crore at the same price and terms, but through secondary purchase.
In November 2021, Laurus Labs picked up 26.62% stake in ImmunoAct for Rs 46 crore, besides senior Laurus Labs management picking up 5.64% stake in the company for Rs 9.75 crore at the same price and terms.
According to Laurus Labs, the fresh infusion of capital will help ImmunoACT fast-track additional supplies of its lead candidate HCAR-19 and enable multi-location GMP facilities to manufacture chimeric antigen receptor-T cells (CAR-T cells). Will expand the fuel of Remedy to support the growing need for scalable manufacturing.
Dr. Satyanarayan Chav, Founder and CEO, Laurus Labs, said that this investment will further strengthen Laurus Labs’ commitment to providing access to novel cell and gene therapy technologies and increasing affordability for patients.
Laurus Labs said its earlier investment in ImmunoACT helped the company successfully build and run GMP manufacturing facilities along with an R&D facility in Navi Mumbai. Phase II study in different hospitals like Tata Memorial Hospital,
Phase-I data presented by ImmunoACT for presentation to the American Society of Hematology (ASH) in November 2022 showed a favorable balance of efficacy and toxicity in those with low-grade cytokine release syndrome.