Lupin spins out two cancer drug programmes to new US venture for $1.6 million stake
AI Summary
Lupin Limited's US subsidiary has licensed two oncology drug programs to Kaveri Therapeutics, acquiring an 82.2% equity stake valued at $1.6 million. The drugs, LNP7457 and LNP8701, have shown promising data in recent clinical meetings, and Kaveri plans to raise additional funds for global trials. Lupin's stock is currently up 1.05% and has seen a 30% increase over the past year.
Lupin Limited on Tuesday disclosed that its wholly-owned US subsidiary, Lupin Inc., has licensed two oncology drug programmes to a newly formed American company, Kaveri Therapeutics Inc., receiving an 82.2 per cent equity stake valued at $1.6 million in return.
The transaction, completed on July 20, 2026, involves exclusive perpetual rights to LNP7457 (targeting the PRMT5 pathway) and LNP8701 (targeting SOS1), both of which have reported positive data at the American Society of Clinical Oncology meetings in 2025 and 2026, respectively. Lupin Inc. will also provide seed funding to Kaveri and has received 332,000 common shares in the company.
Kaveri, incorporated in Delaware on May 20, 2026, is a clinical-stage oncology company focused on solid tumors including lung, pancreatic, ovarian, and CNS-related cancers. The company has no revenue or net worth at present. It will be led by CEO Kristi Jones and Chief Medical Officer Dr. Robert Pierce, and plans to raise additional capital to fund global clinical trials for both programmes.
Lupin’s stock was trading at ₹2,504.60 on the NSE as of 11.42 AM on Tuesday, up 1.05 per cent from the previous close of ₹2,478.50, with buy orders accounting for roughly 57.7 per cent of total traded quantity. The stock has gained approximately 30 per cent over the past year and carries a market capitalisation of around ₹1.14 lakh crore.
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Published on Hindu BusinessLine