Advanced cell and gene therapy company Immunoadoptive Cell Therapy Private Limited (lmmunoACT), on June 1 said the $10 million funding from Laurus Labs will help them to make the Chimeric Antigen Receptor T cells (CAR-T) therapy affordable and accessible in India.
“It’s a big thing. So far, our vision was to bring CAR-T therapy to India at an affordable price and make it accessible. This investment will help us to achieve our vision,” Dr. Rahul Purwar, Founder and Chairman of ImmunoACT, told Moneycontrol.
The Laurus Labs and lmmunoACT have signed definitive agreements whereby Laurus will invest Rs 80 Crores for an additional stake of 7.24 percent in ImmunoACT. Notably, Laurus had a 26.62 percent stake in the gene therapy company, which was acquired in November 2021.
Also read: Laurus Labs shares rise 3% after upping stake in gene therapy company
Post the completion of the deal, Laurus Labs’ stake in ImmunoACT will increase to 33.86 percent (on a fully diluted basis).
Purwar said that the fresh infusion of capital will enable ImmunoACT to fast-track the scale-up of its lead candidate HCAR-19 by expansion of the multi-location cGMP facilities and R&D of the new product pipeline.
“This is the first time in our country that academic and industry collaboration has happened that led to the first gene therapy product clinical trial,” he added.
CAR-T trials to finish soon in India
Commenting on the progress of the CD-19 CAR-T clinical trials, the ImmunoAct chairman said that more than 30 patients have been recruited in phase two of human trials.
“We are hoping to finish it (clinical trials) very soon. The results are compatible with any of the international standards. They will be presented in one of these scientific forums and once they are presented on a scientific forum, we will make it (results) public,” Purwar said.
The Mumbai-based company is awaiting the drug regulator’s approval for the market authorisation of its first product.
“We are awaiting the commercial approval of our first product; HCAR-19, against the B cell malignancies like lymphoma and leukemia. This product is mainly for the B cell malignancies like Leukemia and Lymphoma,” he said.
The ImmunoACT CEO said his company aims to expand production and take the CAR-T therapy at a commercial scale.
“The further goals are, how we can take this made-in-India product to the global platform, which is like going to Mexico, Eastern Europe and even Middle East. These are the countries which also do not have CAR T therapy yet,” Purwar explained.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
