Latest news with #PharmazzInc
&w=3840&q=100)
Business Standard
23-05-2025
- Business
- Business Standard
Sun Pharma to invest $25 million in Pharmazz Inc; raises stake to 22.7%
Sun Pharmaceutical Industries Ltd on Friday announced it will invest up to $25 million in US-based Pharmazz Inc, increasing its total stake in the biopharmaceutical company to 22.7 per cent. The investment, priced at $5.88925 per share in cash, will also trigger the conversion of an earlier Simple Agreement for Future Equity (SAFE) investment at a 20 per cent discount, translating to a conversion price of $4.7114 per share, the company said in a stock exchange filing. Sun Pharma stated that $10 million from the fresh investment, along with $7.5 million from the second SAFE tranche, will be infused by or before May 31, 2025. The remaining $15 million is expected to be invested by or before November 30, 2025, or on another mutually agreed date. Both drugs have been approved in India and are marketed via partners under the brand names Tyvalzi (Sovateltide) and Lyfaquin (Centhaquine). Sun Pharma currently holds exclusive rights to license and distribute Sovateltide in select emerging markets. Following this latest investment, the company will also gain the option to negotiate licensing rights for Sovateltide in certain developed countries. Pharmazz has received US FDA approval to conduct Phase-3 Investigational New Drug (IND) trials for both drugs. Notably, Sovateltide has also secured a Special Protocol Assessment (SPA) from the FDA, outlining a defined regulatory pathway. The company plans to initiate global Phase-3 trials to pursue approvals in the US and other international markets.
Economic Times
23-05-2025
- Business
- Economic Times
Sun Pharma to invest $25 mn in Pharmazz Inc; raises stake to 22.7 pc
Sun Pharmaceutical Industries Ltd on Friday said it has entered into an agreement with US-based Pharmazz Inc to invest up to USD 25 million, resulting in increasing its stake in the company to 22.7 per cent. The investment triggers conversion of earlier investment through SAFE (simple agreement for future equity) resulting in aggregate stake of up to 22.7 per cent in Pharmazz on a fully diluted basis, the company said in a regulatory filing. ADVERTISEMENT The first tranche of USD 10 million, along with the balance of USD 7.5 million out of SAFE tranche 2 investment, will be invested on or before May 31, 2025. The second tranche of USD 15 million will be invested on or before November 30, 2025 or such other mutually agreed date, it added. Pharmazz Inc is a biopharmaceutical company, developing two leading drug candidates, Sovateltide for treatment of acute cerebral ischemic stroke and Centhaquine for treatment of hypovolemic shock. Both products are approved in India and marketed through partners under brands Tyvalzi (Sovateltide) and Lyfaquin (Centhaquine), and are being developed for USA and other markets, it added. Subsequent to the investment, Sun Pharma will receive an option to negotiate licensing of Sovateltide for marketing and distribution in certain developed market countries. The company has already received exclusive right to licence Sovateltide for marketing and distribution in certain emerging market countries, it added. (You can now subscribe to our Economic Times WhatsApp channel)
Time of India
23-05-2025
- Business
- Time of India
Sun Pharma to invest $25 mn in Pharmazz Inc; raises stake to 22.7 pc
Sun Pharmaceutical Industries Ltd on Friday said it has entered into an agreement with US-based Pharmazz Inc to invest up to USD 25 million, resulting in increasing its stake in the company to 22.7 per cent. The investment triggers conversion of earlier investment through SAFE (simple agreement for future equity) resulting in aggregate stake of up to 22.7 per cent in Pharmazz on a fully diluted basis, the company said in a regulatory filing. The first tranche of USD 10 million, along with the balance of USD 7.5 million out of SAFE tranche 2 investment, will be invested on or before May 31, 2025. The second tranche of USD 15 million will be invested on or before November 30, 2025 or such other mutually agreed date, it added. Pharmazz Inc is a biopharmaceutical company , developing two leading drug candidates , Sovateltide for treatment of acute cerebral ischemic stroke and Centhaquine for treatment of hypovolemic shock. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ethiopia: Jewelry On Sale For Half Price! (See Price List) Luxury Jewelry | search ads Undo Both products are approved in India and marketed through partners under brands Tyvalzi (Sovateltide) and Lyfaquin (Centhaquine), and are being developed for USA and other markets, it added. Subsequent to the investment, Sun Pharma will receive an option to negotiate licensing of Sovateltide for marketing and distribution in certain developed market countries. Live Events The company has already received exclusive right to licence Sovateltide for marketing and distribution in certain emerging market countries, it added.
