Key Points
Reddys Laboratories Inc, has acquired a nearly. 6.5% stake. in the Israeli development-stage biotech player..
The Hyderabad-based company informed the bourses that it has picked up 10,14,442 Preferred A-1 shares, equivalent to 6.46% of Editys share capital on a fully diluted basis, for US$1.9715 per share, by way of conversion of SAFE (simple agreement for future equity)...
The therapeutics developed using Editys technology could be used in multiple therapeutic areas, including gene editing, rare genetic disorders, oncology, and inflammation...
This includes performing pre-clinical studies for safety and efficacy evaluation, securing intellectual property through patent filings, and exploring licensing opportunities, collaborations, and market entry strategies to optimize the commercial viability of Edity's technology platform, it added...
Edity, incorporated in Israel on October 22, 2019, is yet to commercialize its technology or products, which is why it does not generate any revenues, and its turnover of the last three years is nil, according to Dr. Reddys Labs..
