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Lupin Unit Licenses Two Oncology Programs to Kaveri for 82.2% Stake

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Lupin (NSE:LUPIN, BOM:500257) said its wholly owned subsidiary, Lupin Inc. U.S.A., has licensed two oncology programs to Kaveri Therapeutics in exchange for an 82.2% equity stake in the U.S.-based biotechnology company.

The agreement grants Kaveri exclusive perpetual rights to the LNP7457 (PRMT5) and LNP8701 (SOS1) oncology programs. In return, Lupin Inc. received 332,000 common shares, valuing the licensed assets at about $1.6 million, and will also provide seed funding.

Kaveri will operate as an independent company under chief executive officer Kristi Jones and chief medical officer Robert Pierce.

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