Laurus Labs expands stake in Immunoadoptive Cell Therapy for Rs.80cr
Hyderabad-based pharmaceutical company Laurus Labs has announced a significant investment in Immunoadoptive Cell Therapy (lmmunoACT), an advanced cell and gene therapy firm.
The deal, valued at INR 80 crores, will increase Laurus Labs’ stake in ImmunoACT to 33.86% on a fully diluted basis. This strategic move is expected to provide ImmunoACT with the necessary capital to expedite the production of its lead candidate, HCAR-19, and expand its manufacturing facilities for Chimeric Antigen Receptor T cells (CAR-T cells) treatment.
The investment will facilitate the increased supply of HCAR-19, a groundbreaking cell and gene therapy that has shown promise in the treatment of various diseases.
By expanding the company’s Good Manufacturing Practice (GMP) facilities across multiple locations, ImmunoACT aims to address the growing demand for scalable manufacturing of CAR-T cells. This move aligns with Laurus Labs’ commitment to accessing novel cell and gene therapy technologies and making them more affordable for patients.
In addition to the cash investment, some promoters and senior management of Laurus Labs will also acquire a 0.54% stake in ImmunoACT through secondary purchases, amounting to approximately INR 4 crores. This further demonstrates Laurus Labs’ confidence in the potential of ImmunoACT and its commitment to fostering collaboration and innovation in the field of healthcare.
Laurus Labs’ initial investment in ImmunoACT in November 2021 played a pivotal role in the establishment of ImmunoACT’s state-of-the-art GMP manufacturing facility and research and development (R&D) center in Navi Mumbai.
Dr Rahul Purwar — ImmunoACT Founder and Chairman said: “With the Laurus first tranche investment, ImmunoACT established a GMP facility along with state-of-the-art R&D facility and sufficiently met funding requirements for conducting ongoing Phase II trials. The current investment will help us gear up to serve more patients across India. We are expecting further collaboration to bring CAR T technologies to the needy Indian patients at an affordable price.”
Currently, ImmunoACT is conducting a phase 2 study at various hospitals, including the renowned Tata Memorial Hospital. The phase 1 data, presented at the American Society of Hematology (ASH) in November 2022, showcased encouraging results, demonstrating a favorable balance of efficacy and toxicity with minimal cytokine release syndrome.
This investment marks a significant milestone for both Laurus Labs and ImmunoACT, as they join forces to advance the field of cell and gene therapy and provide innovative treatments to patients in need.
Dr Satyanarayana Chava — Laurus Labs Founder and CEO said: “This investment further strengthens Laurus Labs’ commitment to accessing novel Cell and Gene Therapy technology and enhance its affordability for patients. This acquisition is also a step towards our commitment to promote and access novel technologies and making it commercially viable in unmet medical needs of autoimmune diseases and oncology.”