Laurus Labs Acquires 60% Stake in Galenvs Sciences

Date: October 29, 2026

The Board of Directors meeting held on October 29, 2026 (2:00 PM to 2:47 PM IST) approved the acquisition of 60% share capital of Galenvs Sciences Inc.
The acquisition is at a pre-money valuation of USD 3.50 million with total investment of USD 3.75 million.

Acquisition Details:

Target Company: Galenvs Sciences Inc., a Canada-based company located in Montréal, Canada
Acquisition Structure: Combination of primary infusion and secondary acquisition
Primary Investment: USD 2.75 million for 8,092,857 common shares (44% post-issue equity on diluted basis)
Secondary Acquisition: USD 1.00 million for 2,942,857 common shares from Founder shareholder (16% post-issue equity on diluted basis)
Total Stake: 60% common share capital on diluted basis
Post-acquisition Status: Galenvs will become a subsidiary of Laurus Labs Limited
Step-down Subsidiary: Galenvs Solutions Inc. (wholly owned subsidiary of Galenvs) will become step-down wholly owned subsidiary

Financial Considerations:

Target Company Business:

Nature of Business: Contract research and development organization (CRO/CDMO)
Specialization: Custom oligonucleotide synthesis and functional magnetic-nanoparticle (MNP) technologies
Markets Served: Diagnostics and therapeutics markets
Operations: Vertically integrated platform spanning discovery, optimization, synthesis, purification, validation and pilot-scale production
Facilities: R&D and laboratory facilities in Montréal supporting oligonucleotide synthesis, purification, analytical testing, magnetic nanoparticle development

Financial Performance of Galenvs:

Strategic Rationale:

Brings synergy to the business of both companies to develop new markets
Galenvs will be engaged in Discovery, Lead Optimization and Pre-clinical process development (1 µmol to 10 mmol)
Technology transfer to Laurus Labs for Phase I/II/III clinical trials and commercialization for scale up
Benefits for Laurus Labs: R&D pipeline arm for oligonucleotides, process IP and know-how, North American business growth opportunity

Regulatory and Timeline:

Related Party Transaction: Not a related party transaction
Promoter Interest: Promoter/promoter group/group companies have no interest in Galenvs
Government Approvals: Acquisition will be in accordance with FEMA provisions and regulations
Additional Filings: Company will make applicable regulatory filings with relevant authorities
Expected Completion: During current financial year, subject to completion of customary closing conditions and agreements

Future Acquisition Rights:

Remaining shares of Galenvs can be acquired by the Company from the Founder on milestone basis in future