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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.