Pharmaceutical major Cipla said on Friday it had signed an agreement to acquire a 21.05% stake in Achira Labs Private Ltd for Rs 25 crore, which is engaged in the development and marketing of point-of-care medical test kits. service (PoC) in India.
The investment will facilitate a Cipla entity’s strategic participation in the PoC diagnostics and AMR space through the design, development and manufacturing of microfluidics-based technologies, he said.
A PoC that allows rapid identification of the infection-causing bug would be extremely helpful in choosing the appropriate antibiotic early in the treatment process.
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Achira develops POC immunoassays and molecular assays in the clinical areas of infectious diseases, antimicrobial resistance (AMR), and hormone analysis, among others.
Commenting on the development, Achin Gupta, CEO of One India Business, Cipla said, “This investment will further our commitment to bringing innovative, affordable and quality diagnostic solutions to everyone. We are guided by our goal of Caring for Life and will continue to make strategic investments to ensure access to point-of-care test kit solutions. »
The transaction is expected to close within 60 days of the signing of the definitive agreements or such other date mutually agreed between the parties and will be subject to the conditions precedent set forth in the definitive agreements, the company said.
Achira is a medical diagnostic company incorporated in Bengaluru, India, which develops medical diagnostic products using microfluidic technology.
The company aims to bring sophisticated medical testing closer to the point of diagnosis, treatment and management through its innovative solutions and cutting-edge research, leveraging its industry-leading capabilities, strong collaborations and deep expertise, he added.
First post: STI