Lupin Transfers Two Cancer Drug Programmes to Kaveri Therapeutics, Acquires 82.2% Stake
Mumbai: Lupin Limited has announced that its wholly owned subsidiary, Lupin Inc., U.S.A., has entered into a licensing agreement with Kaveri Therapeutics Inc., Delaware, U.S.A., granting the company an exclusive perpetual licence for two of its oncology programmes-LNP7457 (PRMT5) and LNP8701 (SOS1). In return, Lupin Inc. has acquired an 82.2% equity stake in Kaveri through 332,000 common shares, marking a strategic move to accelerate the clinical development of the assets.
The company disclosed that the transaction has been completed, with the licensing arrangement and equity acquisition taking effect on July 20, 2026. The two oncology programmes have been valued at USD 1.6 million, which constitutes the consideration for the acquisition of the equity stake. Lupin clarified that the transaction does not constitute a related-party transaction, and none of its promoters, promoter group or group companies have any interest in the proposed acquisition.
Kaveri Therapeutics, incorporated on May 20, 2026, is a clinical-stage oncology company established to advance therapies for solid tumours, including lung, pancreatic, ovarian and central nervous system (CNS)-related cancers. The company had an initial share capital of 72,040 common shares and currently has nil turnover and net worth. No governmental or regulatory approvals were required for the acquisition.
Under the agreement, Lupin Inc. will provide seed funding to Kaveri, while the U.S.-based company will focus on advancing the two oncology programmes through global clinical trials and raise additional capital to support their worldwide clinical development. Kaveri will function as an independent entity led by Chief Executive Officer Kristi Jones and Chief Medical Officer Dr. Robert Pierce, who will oversee the company's clinical development strategy.
Lupin stated that both programmes have already demonstrated encouraging clinical progress. LNP7457 (PRMT5) and LNP8701 (SOS1) reported positive clinical data at the American Society of Clinical Oncology (ASCO) meetings in 2025 and 2026, respectively, supporting the company's decision to establish a dedicated oncology-focused entity for their continued development.
Commenting on the development, Vinita Gupta, Chief Executive Officer of Lupin, said the company is proud to have pioneered the oncology assets and believes that Kaveri's experienced leadership team will help accelerate the development of targeted oncology therapies with the objective of bringing meaningful innovation to patients.
According to the Lupin, the strategic spin-out is aimed at creating an independent oncology-focused company capable of advancing the programmes through global clinical studies while securing additional capital to support their future development.
