Laurus Labs has signed an investment agreement with Immunoadoptive Cell Therapy Pvt. Ltd. (ImmunoACT) to acquire 26.62% stake in the advanced cell and gene therapy firm for a cash consideration of about ₹46 crore.
In addition, the senior management of Laurus Labs would invest in ImmunoACT to pick up a 5.64% stake for approximately ₹9.75 crore at the same price and terms, the drugmaker said on Friday.
CEO Satyanarayana Chava said the partnership with ImmunoACT, which has a portfolio of CAR-T therapy assets under various development stages for treatment of multiple auto immune diseases and oncology indications, would help bring innovative cell and gene therapy products to patients in India and other markets. “ImmunoACT has great leadership team with proven expertise in CAR-T technology and we are confident that these products will benefit patients with better outcomes,” he said.
Founded in 2018 under the aegis of IIT Bombay incubator Society for Innovation and Entrepreneurship, ImmunoACT has strong global partnerships, including with CAR-T therapy pioneer Carl June, who is a member of its scientific advisory board. Current promoters of ImmunoACT will continue to lead the management and operations, Laurus Labs said in a release.
Investment in ImmunoACT is part of a larger strategy to strengthen biologics business and this provides access and entry into an emerging field of research, the drugmaker said.
CEO of ImmunoACT Rahul Purwar said the partnership with Laurus Labs will provide strategic thrust to the firm’s ambitions to establish innovative opportunities in the healthcare industry through new age cell and gene based therapies. It also will pave the way to leverage each other’s strengths in making India a global hub for innovation for research and development of cellular immunotherapy, he said, seeking to also highlight the global distribution and reach of Laurus Labs.
