NATCO Pharma (Canada) Inc, a wholly-owned subsidiary of India’s NATCO Pharma Limited, has invested $8 million in eGenesis, Inc, a US-based biotechnology company specializing in xenotransplantation. The investment, announced on September 4, 2024, aims to support eGenesis’s development of human-compatible organs for transplant.
Also read: Natco Pharma mulling acquisition in RoW market to strengthen base business
The shares of NATCO Pharma Limited were trading at ₹1,524.80 down by ₹5.80 or 0.38 per cent on the NSE today at 12.05 pm
eGenesis recently made headlines in March 2024 for conducting the world’s first porcine kidney transplant in a living patient, authorized by the FDA under the Expanded Access pathway. The company’s EGEN™ Platform uses genome engineering to address cross-species incompatibilities and viral risks in organ transplantation.
NATCO Pharma’s CEO, Rajeev Nannapaneni said, “We are excited to get involved with eGenesis, Inc. with respect to their pioneering work in xenotransplantation. We agree with the vision of eGenesis that xenotransplantation technology has the potential to end the global transplant shortage and transforming the treatment of organ failure by eliminating waitlist mortality.”
The investment is expected to be completed by September 30, 2024, with NATCO acquiring 4,06,29,761 shares in eGenesis.
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Published on September 4, 2024
https://www.thehindubusinessline.com/markets/stock-markets/natco-pharmas-canadian-arm-invests-8m-in-xenotransplantation-pioneer/article68604219.ece
