Pharmaceutical company Laurus Labs Ltd has recently announced its plans to acquire an additional 7.24% stake in Immunoadoptive Cell Therapy Private Limited (ImmunoACT), an advanced cell and gene therapy player. The deal, valued at INR 80 crore, involves a cash consideration. Upon completion, Laurus Labs’ stake in ImmunoACT will rise to 33.86% on a fully diluted basis. In addition, certain promoters and senior management of Laurus Labs will acquire an additional 0.54% stake in ImmunoACT for approximately INR 4 crore through secondary purchases, following the same price and terms.
This move follows Laurus Labs’ previous acquisition of a 26.62% stake in ImmunoACT for INR 46 crore in November 2021. Additionally, senior management of Laurus Labs purchased a 5.64% stake in the company for INR 9.75 crore at the same price and terms. With this latest investment, Laurus Labs aims to strengthen its commitment to accessing innovative cell and gene therapy technology, while also ensuring greater affordability for patients.
The fresh infusion of capital will enable ImmunoACT to expedite the supply of its lead candidate, HCAR-19, and expand its manufacturing facilities for Chimeric Antigen Receptor-T cells (CAR-T cells) treatment. This expansion is crucial in meeting the growing demand for scalable manufacturing. ImmunoACT plans to establish multi-location Good Manufacturing Practice (GMP) facilities to support its expansion efforts.
Dr. Satyanarayana Chava, Founder and CEO of Laurus Labs, expressed his belief that this investment will further enhance the company’s commitment to novel cell and gene therapy technologies, ultimately benefiting patients in terms of affordability and accessibility.
Laurus Labs’ previous investment in ImmunoACT played a pivotal role in the successful development of GMP manufacturing facilities and a research and development (R&D) facility in Navi Mumbai. Additionally, ImmunoACT’s ongoing Phase II studies at renowned hospitals like Tata Memorial Hospital have yielded promising results. The Phase-I data presented by ImmunoACT at the American Society of Hematology (ASH) in November 2022 showcased a favorable balance of efficacy and toxicity, with low-grade cytokine release syndrome.
By expanding its stake in ImmunoACT, Laurus Labs demonstrates its commitment to advancing the field of cell and gene therapy. The investment not only supports ImmunoACT’s growth but also reinforces Laurus Labs’ position as a key player in the pharmaceutical industry. Through strategic investments and collaborations, Laurus Labs continues to drive innovation and contribute to the development of cutting-edge therapies that have the potential to transform patient care.
The investment by Laurus Labs in ImmunoACT represents a significant step forward in the field of cell and gene therapy. By providing financial support and expanding its stake in ImmunoACT, Laurus Labs demonstrates its commitment to advancing innovative treatments that hold immense potential in transforming patient care.
The fresh capital infusion will enable ImmunoACT to accelerate the supply of its lead candidate, HCAR-19, which shows promise in the field of advanced cell and gene therapy. Furthermore, it will fuel the expansion of ImmunoACT’s manufacturing facilities, particularly in the production of Chimeric Antigen Receptor-T cells (CAR-T cells) for the treatment of various diseases. This expansion is critical in meeting the growing demand for these specialized therapies and ensuring their accessibility to patients who can benefit from them.
Dr. Satyanarayana Chava, the Founder and CEO of Laurus Labs, emphasized the importance of accessing novel cell and gene therapy technologies to enhance affordability for patients. By supporting ImmunoACT’s growth and development, Laurus Labs aims to contribute to the advancement of healthcare by making these innovative treatments more accessible and affordable.
Laurus Labs’ earlier investment in ImmunoACT has already yielded positive results. It facilitated the establishment of Good Manufacturing Practice (GMP) facilities and a research and development center in Navi Mumbai, underscoring the commitment of both companies to innovation and excellence. ImmunoACT’s Phase I data, presented at the American Society of Hematology (ASH) in November 2022, demonstrated a favorable balance of efficacy and safety, with low-grade cytokine release syndrome. These positive outcomes further validate the potential of ImmunoACT’s therapies and highlight the significance of continued investment in their development.
