Aurobindo Pharma to acquire Profectus BioSciences biz assets for Rs 80 crore
Auro Vaccines LLC is a wholly-owned subsidiary of Aurobindo Pharma USA Inc, USA, which is a wholly-owned arm of the company, Aurobindo Pharma said in a filing to the BSE.
New Delhi: Aurobindo Pharma said it's subsidiary Auro Vaccines LLC has entered into a pact to acquire certain business assets from Profectus BioSciences Inc USA for an upfront cash consideration of $11.29 million (around Rs 80 crore) with potential earn-outs on achieving certain milestones.
Auro Vaccines LLC is a wholly-owned subsidiary of Aurobindo Pharma USA Inc, USA, which is a wholly-owned arm of the company, Aurobindo Pharma said in a filing to the BSE.
The indicative time period for completion of the acquisition of research and development assets of Profectus BioSciences Inc is the first half of 2020, it added.
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The acquisition provides access to proprietary and innovative technology platforms for prophylactic use and therapeutic use along with global R&D centre, Aurobindo Pharma said.
The acquisition will lead to enhancement of research and development capabilities and expertise in developing newer vaccines from basic discovery research into FDA-approved product, it added.
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