Laurus Labs acquires stake in Indian CAR-T therapy developer ImmunoACT
Laurus Labs said that it has acquired a stake of 26.62% in Immunoadoptive Cell Therapy Private Limited (ImmunoACT), an Indian cell and gene therapy company for a sum of around INR 46 crores in cash.
Apart from that, ImmunoACT will also get an investment of INR 9.75 crores from its senior management for a stake of 5.64%.
ImmunoACT was founded in 2018 under the aegis of IIT Bombay incubator, Society for Innovation and Entrepreneurship (SINE) by Dr. Rahul Purwar.
ImmunoACT was established in 2018 by Dr. Rahul Purwar with the backing of IIT Bombay incubator, Society for Innovation and Entrepreneurship (SINE).
The cell and gene therapy company is said to have strong international partnerships, including one with Dr. Carl June, a pioneer of CAR-T therapy, who is a member of its scientific advisory board.
ImmunoACT’s portfolio comprises CAR-T therapy assets in various stages of development for the treatment of various auto immune diseases and cancer indications.
The incumbent promoters of ImmunoACT are expected to continue to oversee the operations and management of the firm.
Dr. Rahul Purwar — CEO of ImmunoACT said: “We are very excited about partnering with Laurus Labs Limited. The partnership between ImmunoACT and Laurus Labs will provide strategic thrust to our ambitions to establish innovative opportunities in the healthcare industry through new age Cell and Gene based therapies.
“It also provides synergies to both organizations to leverage each other’s strengths in making India a global hub for innovation for R&D of cellular immunotherapy supported by the global distribution and reach of Laurus Labs.”
Laurus Labs’ investment in ImmunoACT is part of the overall strategy to improve its biologics business apart from giving the opportunity to enter into a new area of research.
According to the Hyderabad-based pharma and biotech company, CAR-T therapy is extremely promising as a treatment option that has been successful in the west. In India, CAR-T therapy is yet to be available and the partnership with ImmunoACT will help bring the innovative technology to Indian patients at an affordable cost, said Laurus Labs.
Dr. Satyanarayana Chava — CEO of Laurus Labs said: “We are very excited to partner with ImmunoACT to bring novel CAR-T therapy to patients in India and other markets at an affordable pricing.
“This partnership will help us in bringing 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.”