1 week ago
Natco Pharma Invests Over Rs 130 Crore in eGenesis
Natco Pharma is putting more money into a biotechnology company called eGenesis.
The new investment is worth $14 million, which is more than Rs 130 crore.
Two Natco subsidiaries will make the investment.
One will provide $9.5 million, and the other will provide $4.5 million.
The money will be given through special notes that can later be converted into shares.
eGenesis is working on making organs suitable for transplantation using genome engineering.
Its goal is to help address the shortage of organs for people with organ failure.
Natco had already invested $8 million in eGenesis in 2024, bringing its total investment to $22 million.
Natco Pharma is investing $14 million, or more than Rs 130 crore, in US biotechnology firm eGenesis.
Natco Pharma (Canada) Inc will invest $9.5 million through convertible promissory notes.
Natco Pharma South Africa Proprietary Ltd will invest the remaining $4.5 million.
eGenesis is developing genome-engineered organs intended for transplantation and organ-failure treatment.
Natco Pharma’s total investment in eGenesis has reached $22 million, including an $8 million 2024 investment.
- Who
- Natco Pharma and its subsidiaries are investing in eGenesis, a US-based biotechnology company.
- What
- Natco Pharma is investing $14 million, or over Rs 130 crore, in eGenesis through convertible promissory notes.
- Where
- The investment is in eGenesis, a US-based company; the announcement came from Natco Pharma, which is based in Hyderabad.
- When
- The announcement was made on Tuesday; Natco’s earlier $8 million investment was made in 2024.
- Why
- eGenesis is developing genome-engineered transplantable organs to address the global organ shortage and treat organ failure.
Key facts
- New investment
- $14 million, described as more than Rs 130 crore
- Natco Pharma (Canada) Inc investment
- $9.5 million
- Natco Pharma South Africa Proprietary Ltd investment
- $4.5 million
- Investment method
- Convertible promissory notes
- Earlier investment
- $8 million invested in eGenesis through preferred stock in 2024
- Total investment
- $22 million
- eGenesis focus
- Genome engineering for safe and effective transplantable organs
Sources
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