Laurus Labs signs pact to acquire 26.62 % stake in ImmunoACT

Laurus Labs on Friday said it has signed an investment agreement with Immunoadoptive Cell Therapy Private Limited (ImmunoACT), an advanced cell and gene therapy company, to acquire 26.62 per cent stake on fully diluted basis for about Rs 46 crore.

A press release from the city-based drug maker said additionally, senior management of Laurus Labs would also invest in ImmunoACT for a 5.64 per cent stake for approximately Rs. 9.75 crore at same price and terms.

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Laurus labs investment in ImmunoACT is part of the larger strategy to strengthen biologics business of the firm and it provides access and entry into an emerging field of research.