What drives Sun Pharma to acquire 16.7% stake in Lyndra Therapeutics?

Sun Pharmaceuticals Ltd. has announced a strategic move to acquire a 16.7% stake in Lyndra Therapeutics Inc., a Massachusetts-based company specializing in innovative long-acting oral (LAO) therapies. The Indian pharmaceutical major is set to invest $30 million in this deal.

Lyndra Therapeutics, established in 2015 with technology originating from the Langer Lab at MIT, focuses on developing cutting-edge delivery technology for LAO therapies. Sun Pharma expressed that this investment aims to support the advancement of novel pharmaceutical delivery technologies and gain access to specific technologies for designated molecules and territories.

In 2022, Lyndra Therapeutics recorded a turnover of $10.7 million. Notably, the company's LYN drug delivery platform has evolved through the collaborative efforts of founders Robert Langer, Giovanni Traverso, Andrew Bellinger, and Amy Schulman. In a significant development in July 2023, Jessica Ballinger, the former COO, was promoted to the position of Chief Executive Officer.

Lyndra has garnered substantial financial support, raising $260 million to date from investors and partners, including $100 million in non-dilutive grants. The company has made remarkable progress, with 19 therapies formulated in the lab and four therapeutic products advanced to clinical stages, showcasing the viability of its platform with multiple APIs.

However, Lyndra was in the news in September due to a reported workforce reduction of nearly a quarter, as highlighted by Fierce Pharma. This move by Sun Pharma underscores its commitment to staying at the forefront of pharmaceutical innovation and enhancing its global footprint in strategic partnerships.

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