NATCO Pharma Canada Inc. announces US$ 8 million investment in eGenesis, Inc.

NATCO Pharma Limited's wholly owned Canadian subsidiary, NATCO Pharma (Canada) Inc., has made an investment of US$ 8 million in eGenesis, Inc., a biotechnology company at the forefront of xenotransplantation focused on developing safe and effective humancompatible organs for transplant.

In March 2024, eGenesis announced the world's first porcine kidney transplant in a living patient. The transplant was authorized by the U.S. Food & Drug Administration (FDA) under the Expanded Access pathway.

eGenesis is pioneering a genome engineering-based approach in the development of safe and effective transplantable organs to end the global organ shortage and transform the treatment of organ failure. The eGenesis Genome Engineering and Production (EGEN™) Platform is the only technology of its kind to comprehensively address cross-species molecular incompatibilities and viral risk via genetic engineering to improve the lives of patients in need of a transplant. eGenesis is advancing development programs for kidney transplant, acute liver failure, and heart transplant.

"We are excited to get involved with eGenesis, Inc. with respect to their pioneering work in xenotransplantation. We agree with the vision of eGenesis that xenotransplantation technology has the potential to end the global transplant shortage and transforming the treatment of organ failure by eliminating waitlist mortality," said Rajeev Nannapaneni, Vice Chairman and CEO of NATCO Pharma Limited.

"We are thrilled to welcome NATCO as an investor. Their support will be used in advancing our research and bringing our innovative therapies to market," said Mike Curtis, CEO of eGenesis, Inc.

Shares of Natco Pharma Limited was last trading in BSE at Rs. 1555.15 as compared to the previous close of Rs. 1528.80. The total number of shares traded during the day was 29516 in over 1448 trades.

The stock hit an intraday high of Rs. 1568.75 and intraday low of 1486.35. The net turnover during the day was Rs. 45156896.00.

Source : Equity Bulls

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NatcoPharma INE987B01026 NatcoPharmaCanadaInc Investment eGenesisInc