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As per MoA, Laurus Labs will in-license few gene therapy assets and will provide research grant for advancing these products through the pre-clinical development. Laurus will also provide funding for the clinical trials and will launch these products in India and emerging markets. Additionally, Laurus Labs will establish a GMP facility at the Techno Park facility of IITK.
The partnership allows Laurus Labs to strengthen its presence in the promising cell and gene therapy (CGT) space and allows it to become a leader in this space. These therapies are not available in India and emerging markets and this collaboration will help the company in bringing these novel therapies to Indian patients at an affordable pricing. Additionally, this allows Laurus Labs to offer CDMO services to cell and gene therapy companies.
Department of Biological Sciences and Bioengineering (BSBE) at IIT Kanpur has been working on gene therapy for the last few years and have developed few gene therapy assets along with technology for novel Adeno Associated Virus (AAV) vectors. They have filed IPs around these products and few additional patent applications will be filed in due course.
Commenting on this development, CEO of Laurus Labs, Satyanarayana Chava, said, “This partnership also provides a unique model for industry –academia collaboration and how can we leverage strengths from both the sections for the benefit of patients. IITK has a proven record of being a flag bearer for advancing research in India and this collaboration takes it to the next level.”
Abhay Karandikar, director of IIT Kanpur said, “This is a big moment for us at IIT Kanpur when we are partnering with a leading pharma company Laurus Labs for developing novel drugs based on path-breaking research in gene therapy at IIT Kanpur. With setting up of the Gangwal School of Medical Sciences and Technology, we are committed to transformative research in affordable healthcare including novel drug discovery, medical diagnostics and therapeutics, medical devices and implants. I am confident that in the years to come, this partnership with Laurus Labs will enable affordable treatment to some of the difficult to treat disorders.”
Laurus Labs is a fully integrated pharmaceutical and biotechnology company, with a leadership position in generic Active Pharmaceutical Ingredients (APIs) and a major focus on anti-retroviral, oncology drugs, Cardiovascular, Gastro and Hepatitis C therapeutics. The company also develops and manufactures oral solid formulations, provide contract research and manufacturing services (CRAMS) to Global pharma companies.
The pharmaceutical company's consolidated net profit tumbled 55.32% to Rs 102.98 crore on 3.08% slide in revenue from operations to Rs 1,380.90 in Q4 FY23 over Q4 FY22.
The scrip rose 0.44% to Rs 369.20 on the BSE.
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