Glenmark & Ichnos Sciences and Astria Therapeutics Announce Licensing Agreement for OX40 Antagonist Monoclonal Antibody Portfolio
Ichnos Sciences, a global clinical-stage biotechnology company developing innovative multispecific antibodies for oncology, today announced that the company has entered into an exclusive worldwide licensing agreement for its OX40 antagonist monoclonal antibody portfolio with Astria Therapeutics, a biopharmaceutical company developing therapies for rare allergic and immunological diseases. With the execution of this agreement, Ichnos has successfully licensed its two assets for inflammatory and immunological diseases, a key milestone in the company’s prioritization of its pipeline of oncology drug candidates.
Renuka Sugars acquisition of Anamika Sugar Mills Private Limited
Anamika Sugar Mills Pvt. Ltd. allots 2.32 crore equity shares to the company on rights issue basis at a price of Rs. 47.05/- per share, including a premium of Rs. 37.05/- per share
This acquisition of shares is not a related party transaction and is a part of the larger transaction wherein the Company has acquired 100% of the existing equity shareholding in Anamika.
The proceeds of the rights issue will be utilized towards redemption of 7% cumulatively redeemable preference shares (CRPS) of Anamika. After completion of the aforementioned transactions, Anamika will become a wholly owned subsidiary of the Company. The promoters / promoter group / group companies do not have interest in the entity being acquired.
Anamika is a private limited company incorporated on 12th March 2010 under the Companies Act, 1956. Anamika is engaged in the business of cultivation, manufacturing, processing, refining, distribution, marketing and/or trading of sugar and sugar products, byproducts and derivatives of sugar, generation of electricity from sugar byproducts and all activities incidental or necessary. The current crushing capacity of Anamika is around 4000 TCD. The operations of Anamika are limited to India