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Laurus Labs invests Rs 80 cr in gene therapy firm ImmunoACT

Thursday, 01 Jun 2023
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Laurus Labs on 31 May, 2023 has invested further Rs 80 crore in the Immunoadoptive Cell Therapy (lmmunoACT), which is developing an affordable CAR T-cell therapy for curing specific types of blood cancers.

The fresh infusion of capital will enable ImmunoACT to accelerate the scale-up of HCAR-19 through the expansion of the multi-location GMP facilities and R&D of a pipeline of new products. It will help to service more patients and focus on the the manufacture and efficacy of more treatments at affordable price range.

The pharmaceutical and biotechnology company is looking to invest further in disruptive innovation with a disciplined approach, strategic partners and customers to bring these promising therapies to patients. With the Laurus first tranche investment, ImmunoACT established a GMP facility along with an R&D facility and sufficiently met funding requirements for conducting on-going Phase II trial.

Laurus will get an additional stake of 7.24 percent in ImmunoACT, as part of Series-B funding, and Laurus stake in ImmunoACT will increase to 33.86 percent (on a fully diluted basis). Laurus in November 2021, had picked up 26.62 percent stake in ImmunoACT for Rs 46 crore. Founded in 2018, the IIT-Bombay incubated ImmunoACT is collaborating with Tata Memorial Hospital, and Carl June, a pioneer in T-Cell therapies for treatment of cancer, is a member of its scientific advisory board.

CAR T-cell therapy uses a patient’s own immune cells called T-cells which are altered to destroy cancer cells in the body. ImmunoAct has promised that the indigenous CAR-T therapy would cost Rs 30-40 lakh per patient.

 
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