Laurus Labs injects Rs 80 crore in ImmunoACT

Laurus Labs informed on Wednesday that the company has invested Rs 80 crore in Immunoadoptive Cell Therapy Private Ltd (lmmunoACT). Reportedly, lmmunoACT is developing a CAR T-cell therapy to cure specific types of blood cancers.

As part of series-B funding, Laurus will receive an additional stake of 7.24% in lmmunoACT. After the completion of the said funding round, Laurus will hold a 33.86% stake in lmmunoACT on a fully diluted basis.

Earlier in November 2021, Laurus acquired a 26.62% stake in ImmunoACT. The said acquisition was for an aggregate consideration of about Rs 46 crore.

The fresh equity infusion will aid lmmunoACT to accelerate the scale-up of its lead candidate HCAR-19 by expanding its multi-location cGMP facilities and R&D of the new product pipeline.

This investment by Laurus will help lmmunoACT to prepare for manufacturing more treatments. Laurus Labs is looking to invest in revolutionary innovation and help its strategic partners and customers introduce these promising therapies to patients.

lmmunoACT is looking to expand its collaboration with institutions like Tata Memorial Hospital.

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