Cipla UK subsidiary to infuse EUR 15 million in Ethris
Mumbai: Cipla Limited has announced that its wholly-owned UKsubsidiary, Cipla (EU) Limited has signed definitive agreements for equityinvestment of EUR 15 million in Ethris GmbH. The investment will facilitate a long-term strategic partnership between Cipla andEthris for the development of messenger RNA (mRNA)-based therapies and fast-trackCipla's participation in the mRNA space, enabling it to provide access to cutting-edge solutions developed by Ethris for the developing countries.
A collaboration agreement is signed concurrently with the definitive agreement,which paves a path to market Ethris' innovative portfolio in Cipla's key emergingmarkets.The transaction is expected to get completed within 60 days from the date of signingof the agreement or such other time period as may be mutually agreed between theparties in writing and shall be subject to completion of necessary regulatoryformalities.
Umang Vohra, Managing Director & Global Chief Executive Officer of Cipla, said: "Thiscollaboration accelerates our innovation journey and enables us to provide accessto cutting-edge healthcare solutions to our patients. We expect mRNA-basedtherapies to be one of the key innovation levers for Cipla. This inhaled mRNAtechnology is a paradigm shift in the delivery mechanism and this partnershipreinforces Cipla's strength in respiratory therapy in line with our aspiration of attainingglobal lung leadership."
Dr. Carsten Rudolph, CEO of Ethris stated: "We value this strategic relationship withCipla that will build on our pioneering mRNA technology and our joint focus onbringing innovative treatments for respiratory diseases to patients. The investmentsupports the further development of our pipeline and our objective to leverage thepower of mRNA-based therapeutics to treat a broad range of diseases."
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Cipla Limited is an Indian multinational pharmaceutical and biotechnology company, headquartered in Mumbai, India. The Company was founded by Khwaja Abdul Hamied in 1935 in Mumbai.
Cipla primarily develops medicines to treat respiratory, cardiovascular disease, arthritis, diabetes, weight control, depression, and other medical conditions.
