Key Transaction Details

  • Gennova Biopharmaceuticals Limited executed a Business Transfer Agreement on July 10, 2026 for the transfer of its mRNA business as a going concern on a slump sale basis to Immunoscript Life Science Private Limited.
  • The transfer is for a lump sum cash consideration of ₹1,395 million.
  • The expected completion date is July 17, 2026, subject to fulfilment of conditions precedent and other terms set out in the Business Transfer Agreement, as well as regulatory, statutory, and other approvals. The date may be mutually extended by the parties.

Financial Contribution of Divested Unit

For FY 2025-26, the mRNA business unit contributed:

  • Revenue: ₹647.10 million, representing 0.71% of Emcure's consolidated revenue of ₹91,158.88 million.
  • Net Worth: ₹1,326.31 million, representing 2.68% of Emcure's consolidated net worth of ₹49,500.32 million.

Buyer Details

  • Name: Immunoscript Life Science Private Limited
  • Promoter: Dr. Sanjay Singh, formerly a Director of Gennova.
  • Related Party Status: Immunoscript does not belong to the promoter/promoter group/group companies of Emcure.
  • The transaction is not a related party transaction as of the date of execution of the BTA.

Business Profiles

  • Gennova: Involved in research and development, manufacturing, and marketing of biotechnology-based products. Its total turnover for FY 2025-26 was ₹4,917.42 million.
  • Immunoscript: Incorporated in April 2026. Its vision is to advance precision immunology by integrating biological engineering, artificial intelligence, and scalable biomanufacturing technologies to develop next-generation vaccines and advanced therapeutics.

Rationale for Transaction

The transfer is part of Gennova's strategic initiative to reorganize its business operations and focus on its core areas – research and development, manufacturing, and marketing of biotechnology-based products, including biosimilars and adjacent therapeutic platforms.

Additional Information

  • The slump sale does not form part of any Scheme of Arrangement.
  • Regulation 37A of the LODR Regulations is not applicable.
  • There will be no change in the shareholding pattern of Emcure Pharmaceuticals Limited pursuant to this slump sale.