Cipla to pick 14.6% stake in Chase Pharmaceuticals for $1.5m

Drug firm Cipla Ltd today said it will acquire 14.6 per cent stake in US-based Chase Pharmaceuticals Corporation Inc for USD 1.5 million.

The investment will be done through Cipla's wholly owned subsidiary Cipla (EU) Ltd, UK.

Cipla also said it will make an additional USD 4.5 million investment in Chase upon achievement of certain milestones.

"..Company has signed a definitive agreement to invest USD 1.5 million in Chase Pharmaceuticals Corporation Inc, US, to acquire 14.6 per cent stake in Chase on a fully diluted basis," Cipla said in a BSE filing.

Chase is an early stage drug development company, engaged in novel approaches to improve treatments for Alzheimer's disease.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Steps towards transparency in the real estate sector are long overdue

    Searching for black money in India’s real estate sector, which constitutes 11 per cent of the country’s $ 2 trillion GDP, is like searching for th

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

Reaping from the core of the earth

Geothermal energy is energy generated from inside the earth’s crust. ...

Zehra Naqvi

For the love of language

A video doing the rounds in social media these days ...

Dharmendra Khandal

‘Poop’ coffee anyone? If civets suffer, so be it

That a drink which proudly associates itself with animal poop ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture