Sun Pharma Clinches $30 Million Deal With US Firm

WATERTOWN, MA (IANS) – India’s Sun Pharmaceuticals Ltd has said that it has agreed to acquire a 16.7 percent stake in US company Lyndra Therapeutics Inc for $30 million.

Lyndra Theraputics, based here, is engaged in the business of developing novel delivery technology for long-acting oral therapies.

Sun Pharma stated in a regulatory filing that it is making a strategic investment to support the development of innovative pharmaceutical delivery technologies and get access to the technology for certain molecules and territories.

The transaction is expected to be completed by the end of December 2023, subject to certain conditions, it added.

Lyndra was founded in 2015 with technology that emerged from the Langer Lab at MIT. The company clocked a turnover of $10.7 million in 2022.