Sudarshan Pharma Industries to Acquire 9.5% Stake in US-Based MedTherapy Biotech

Promoters to co-invest

Alongside the company, its promoters will also acquire a stake in the same target:

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• Mr. Hemal Mehta, Chairman & Managing Director: 3,82,685.63 shares (1.50%)
• Mr. Sachin Mehta, Joint Managing Director: 3,82,685.63 shares (1.50%)

The company clarified that the transaction does not fall within related party transactions and will be done at arm’s length.

Legal and commercial due diligence will be concluded before closure, with FEMA compliances to be addressed.

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Target Snapshot: MedTherapy Biotechnology Inc.

According to Annexure-A filed by the company:

Name: MedTherapy Biotechnology Inc. (“MedTherapy Biotech”), a corporation incorporated under the laws of the State of Delaware, USA

Business: Boston-based global Cancer Cell & Gene Therapy Company founded in 2018 by experts from Harvard and former Novartis executives. It operates as an end-to-end, integrated CAR-T Cell CDMO, with a commercial-scale GMP manufacturing facility in New Delhi, India and a technology development site in Boston, USA.

Mission: Founded with a mission to make CAR-T cell therapy affordable and accessible so that almost every cancer patient would be able to afford it.

Strategic Rationale

Sudarshan Pharma listed three key objects for the 9.5% acquisition:

1. Enter the U.S. market and establish a presence there.
2. Access the customer base, contracts, and distribution network.
3. Expand into new products and services.

The move marks a diversification beyond its main line of business into high-value advanced cell and gene therapy CDMO services.

Regulatory Path & Timeline

The company said governmental approval required is from the Reserve Bank of India under Foreign Exchange Management Act, 1999 and the Foreign Exchange Management (Overseas Investment) Rules, Regulations and Directions, 2022, as may be amended from time to time – under the automatic route.

Indicative time period for completion: On or before 31st March 2027.

The company has requested BSE to take the disclosure on record.