Zynext Ventures USA, the venture capital arm of Zydus Lifesciences (NSE:ZYDUSLIFE, BOM:532321), has agreed to invest of an undisclosed amount in biopharmaceutical company Illexcor Therapeutics.

The investment is aimed at advancing novel oral therapy for sickle cell disease, according to a Wednesday filing to the Indian stock exchanges.

Illexcor is developing oral therapies for sickle cell disease. The lead asset, currently in preclinical development, is designed to bind to Hemoglobin S and effectively block polymerization and sickling, offering the potential for disease-modifying clinical benefits.

Zydus Lifesciences shares were up nearly 1% in recent trade.