Laurus Labs to acquire 60% stake in Canadian biotech company Galenvs Sciences | Hyderabad News

Hyderabad: Laurus Labs Ltd informed the bourses on Thursday that it has signed a definitive agreement to acquire a 60% stake in Galenvs Sciences, a Canadian biotechnology company specialising in precision magnetic nanoparticles and DNA/RNA technologies for advanced diagnostics and therapeutics.The transaction values Galenvs Sciences at a pre-money valuation of $3.5 million (around Rs 33 crore) and remains subject to due diligence. Laurus said in the regulatory filing that it proposes to invest $3.75 million (around Rs 36 crore), including a primary infusion of $2.75 million, in the Canadian company.The investment is aimed at strengthening Laurus Labs’ capabilities in oligonucleotide development and manufacturing and expanding its contract development and manufacturing organisation (CDMO) offerings.Laurus Labs said Galenvs’ technology platforms in oligonucleotides and precision magnetic nanoparticles will complement its own research, development and manufacturing capabilities, helping it offer differentiated solutions to customers working on complex and next-generation therapeutics.“The investment into Galenvs Sciences marks another pivotal step in Laurus Labs’ strategic evolution as a research-driven organization that has consistently invested ahead of the curve,” said Dr Satyanarayana Chava, founder & CEO, Laurus Labs. “Galenvs brings differentiated technology capabilities in oligonucleotides and precision magnetic nanoparticles, which we believe can create significant value for our customers and strengthen our capabilities in TIDES.”Chava said the combination of Galenvs’ technologies with Laurus’ research, development and manufacturing strengths is intended to support the development of advanced therapeutics more efficiently and at scale, while helping bring next-generation therapies to patients at affordable cost.Laurus said the investment will bring together capabilities across the oligonucleotide segment, including early-stage process development, conjugation, advanced purification technology and fill-finish services. The company said its experience in large-scale manufacturing involving complex chemistry, fermentation, peptide development and manufacturing, analytical science, drug product formulation and sterile fill-finish will support partners in oligonucleotides.Dr Jamal Daoud, founder & CEO, Galenvs Sciences, said the partnership comes at an important stage in Galenvs’ growth. “Combining our oligonucleotide development and magnetic nanoparticle capabilities with Laurus’ extensive development and manufacturing infrastructure creates a strong platform to serve customers from early-stage development through scale-up and manufacturing,” Daoud said.Following the transaction, Galenvs Sciences will continue under Laurus Labs’ ownership, with a focus on preserving its scientific capabilities, technological expertise and customer-centric approach. Laurus said the companies plan to expand scientific talent in Montréal and manufacturing infrastructure in India.