Cipla EU initiates strategic collaboration with Ethris, to invest Euro 15 mn | Mint
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Business News/ Companies / News/  Cipla EU initiates strategic collaboration with Ethris, to invest Euro 15 mn
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Cipla EU initiates strategic collaboration with Ethris, to invest Euro 15 mn

The transaction is expected to get completed within 60 days from the date of signing of the agreement

Cipla is a global pharmaceutical company focused on agile and sustainable growth. (Mint)Premium
Cipla is a global pharmaceutical company focused on agile and sustainable growth. (Mint)

Cipla Ltd on Thursday said that its wholly-owned UK subsidiary, Cipla (EU) Limited has acquired 10.35 per cent stake in Germany's Ethris GmbH.

Cipla EU will invest Euro 15 million for acquisition of 9,939 common shares of face value of Euro 1 each, for a stake of 10.35 per cent, said the company in its regulatory filing.

The transaction is expected to get completed within 60 days from the date of signing of the agreement , said Cipla in its regulatory filing.

A collaboration agreement is signed concurrently with the definitive agreement, which paves a path to market Ethris’ innovative portfolio in Cipla’s key emerging markets,

The investment will facilitate a long-term strategic partnership between Cipla and Ethris for the development of messenger RNA (mRNA)-based therapies and fast-track Cipla’s participation in the mRNA space, enabling it to provide access to cuttingedge solutions developed by Ethris for the developing countries.

"This collaboration accelerates our innovation journey and enables us to provide access to cutting-edge healthcare solutions to our patients. We expect mRNA-based therapies to be one of the key innovation levers for Cipla. This inhaled mRNA technology is a paradigm shift in the delivery mechanism and this partnership reinforces Cipla’s strength in respiratory therapy in line with our aspiration of attaining global lung leadership," said Umang Vohra, MD & Global CEO, Cipla.

"We value this strategic relationship with Cipla that will build on our pioneering mRNA technology and our joint focus on bringing innovative treatments for respiratory diseases to patients. The investment supports the further development of our pipeline and our objective to leverage the power of mRNA-based therapeutics to treat a broad range of diseases," said Carsten Rudolph, CEO, Ethris.

The company's scrip ended 0.17 per cent higher at 1,087.30 on BSE.

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Published: 29 Dec 2022, 10:11 PM IST
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