Lupin Limited disclosed that its wholly owned subsidiary, Lupin Inc. U.S.A., has entered into a licensing agreement with Kaveri Therapeutics, Inc. U.S.A. ("Kaveri"), a clinical-stage oncology company incorporated in Delaware, U.S.A. on May 20, 2026.
Transaction Details
- Lupin Inc. U.S.A. grants an exclusive perpetual license for two oncology programs to Kaveri: LNP7457 (PRMT5) and LNP8701 (SOS1).
- In exchange, Lupin Inc. U.S.A. receives an 82.2% equity stake in Kaveri through Common Shares.
- The transaction is valued at USD 1.6 million for the license of the two programs.
- The acquisition does not fall within the purview of related party transactions.
- No promoter/promoter group/group companies have any interest in the acquisition.
- No governmental or regulatory approvals are required for this acquisition.
Target Entity Information
- Kaveri Therapeutics, Inc. is a clinical-stage oncology company focused on early-stage clinical development of therapies for solid tumors including lung, pancreatic, ovarian, and CNS-related cancers.
- Incorporated on May 20, 2026 with initial share capital of 72,040 Common Shares.
- Financial details: Turnover - NIL, Net Worth - NIL.
- Country of presence: Delaware, U.S.A.
Strategic Rationale and Impact
- Lupin Inc. U.S.A. will provide seed funding to Kaveri.
- Kaveri will operate as an independent entity to advance these programs through global clinical trials.
- Kaveri will raise additional capital to fund its global clinical development efforts.
- Both programs have demonstrated encouraging clinical progress with positive data presented at American Society of Clinical Oncology (ASCO) meetings (LNP7457 in 2025 and LNP8701 in 2026).
Management Structure
- Kaveri will be led by Chief Executive Officer Kristi Jones, described as a seasoned biopharmaceutical leader.
- Chief Medical Officer Dr. Robert Pierce will lead the company's clinical development strategy.