EMCURE AND GENNOVA TO RESUME mRNA COLLABORATION WITH HDT
Pune, India, May 23, 2024: Emcure Pharmaceuticals Ltd. and its biotech subsidiary, Gennova Biopharmaceuticals Ltd. have amicably resolved all legal disputes with HDT Bio Corp. The litigation between them, including before US courts and the arbitral tribunal in London, has been settled and dismissed. Gennova and HDT, who previously collaborated on the successful development of Gennova’s mRNA Covid-19 vaccines will once again collaborate on the development and commercialization of mRNA vaccines.
The parties have entered into a long-term agreement to develop mRNA vaccines against a broad range of infectious diseases, in India and several other countries. As part of their agreement, HDT has granted a license to Gennova to use HDT’s patented mRNA vaccine technology in multiple fields.
“EMCURE is delighted that the misunderstanding between us and HDT not only stands resolved but we have widened the scope of our technical collaboration on a long term basis. mRNA platform will be the launching pad for our foray into vaccines for tuberculosis, rabies, dengue and other infectious diseases and our collaboration with HDT will be mutually beneficial,” observed Mr. Satish Mehta, CEO & Managing Director of EMCURE.
CEO of HDT, Dr. Steve Reed, echoed Mr. Mehta’s sentiments and added that “HDT’s proprietary technology, combined with Emcure’s & Gennova’s innovation and manufacturing excellence and established distribution network will bring life-saving vaccines to countless people. We are committed to a successful relationship with Emcure and Gennova.”
Disclaimer:
“Emcure Pharmaceuticals Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its equity shares and has filed a draft red herring prospectus dated December 16, 2023 (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the websites of the Company at www.emcure.com, SEBI at www.sebi.gov.in, the book running lead managers, Kotak Mahindra Capital Company Limited, Axis Capital Limited, Jefferies India Private Limited, and JP Morgan India Private Limited at https://investmentbank.kotak.
