Cipla Limited today announced that its wholly-owned subsidiary in United Kingdom, Cipla (EU) Limited (hereinafter together referred as "Cipla") will invest an additional EUR 3 million in Ethris GmbH ("Ethris"), a global leader in delivering mRNAs directly to the respiratory system. This additional investment through a convertible loan will accelerate Cipla's participation in the mRNA space.
Cipla had earlier invested EUR 15 million in Ethris in 2022. This additional investment reaffirms Cipla's confidence in Ethris's proprietary mRNA platform and its potential for patients in emerging markets. Together, Cipla and Ethris are working towards a long-term strategic partnership to fast-track innovative mRNA-based treatments. During the COVID19 pandemic, mRNA vaccines gained importance due to the first regulatory approvals for SARS-CoV-2. mRNA-based medicines have a huge potential in several indications as infectious disease vaccines, therapeutic cancer vaccines, and protein replacement therapies.
Umang Vohra, Managing Director & Global Chief Executive Officer of Cipla, said, "At Cipla, we strive to dial-up our focus and investment towards innovative modalities and bring new age therapies to emerging countries, including India. The follow-on investment in Ethris will help get cutting-edge healthcare solutions like mRNA-based therapies to the Global South. As we lead Cipla ahead, we will continue to work towards building an innovative future and build brands that re-enforce our ethos of 'caring for life'."
Dr. Carsten Rudolph, CEO of Ethris, added, "The additional investment by Cipla further validates the broad potential of our platform and Ethris' innovative approaches to developing respiratory RNA-based medicines. We deeply value this ongoing relationship to bring effective solutions to developing countries. The capital will enable us to continue advancing our pipeline and we look forward to providing an update on our lead program in the near term."
Shares of Cipla Limited was last trading in BSE at Rs. 1565.30 as compared to the previous close of Rs. 1543.45. The total number of shares traded during the day was 36181 in over 2912 trades.
The stock hit an intraday high of Rs. 1571.15 and intraday low of 1537.20. The net turnover during the day was Rs. 56364890.00. |
