Shares of Shilpa Medicare Limited climbed to a day high of Rs 525.00 on NSE on 3 June, while the company announced its wholly owned arm Shilpa Biocare Pvt Ltd would acquire a 30.4% equity stake in Barcelona-based biotechnology firm Gate2Brain S.L. for a total consideration of €7 million.

The deal is not a straightforward cash purchase. Of the €7 million total, only €0.5 million is a direct cash payment. 

Another €5.5 million comes in the form of equity issued in exchange for services that Shilpa Biocare will provide, and the remaining €1 million is earmarked specifically for the development of Gate2Brain’s lead drug candidate. The transaction will be completed in tranches as per the definitive agreements, and no government or regulatory approvals are required.

The Barcelona firm, incorporated in 2020, is developing a technology that works like a delivery vehicle for cancer medicines. 

The human brain has a protective layer called the blood-brain barrier that blocks most drugs from reaching it. Gate2Brain’s MiniAp4 peptide shuttle is designed to cross that barrier and carry a potent anti-cancer compound called SN-38 directly to brain tumours.

Its lead candidate, G2B-002, targets two rare and aggressive childhood brain cancers: diffuse intrinsic pontine glioma, known as DIPG, and pediatric glioblastoma. 

Both conditions have very limited treatment options today. G2B-002 has received Orphan Drug Designation from both the USFDA and the European Medicines Agency, a status granted to drugs targeting rare diseases. 

Preclinical studies cited by the company showed up to 100-fold higher transport of the drug into the brain compared with conventional approaches.

Gate2Brain is still at the pre-clinical stage. Clinical batches are expected to be produced next year, with first-in-human trials targeted by FY28.

Under the deal, Shilpa Biocare becomes a strategic shareholder and will also act as the manufacturing and regulatory partner for G2B-002. Managing Director Vishnukant Bhutada said in the press release that Gate2Brain’s technology is ‘among the most differentiated CNS-delivery platforms we have evaluated.’

According to third-party market estimates cited in the company’s filing, the global glioblastoma treatment market is valued at around $3.01 billion today and could reach $6.48 billion by 2035. 

The DIPG segment alone is projected to grow from $603.7 million to $1.2 billion over the same period. The filing notes these are indicative estimates, not forecasts by Shilpa Medicare.

This is the fourth strategic equity partnership of this kind for the Raichur-based pharma company.

At 14:09 pm on 3 June, SHILPAMED was trading down 0.65% at Rs 514.00 on NSE, off the session high of Rs 525.00. The stock’s 52-week high is Rs 529.80, hit on 25 May 2026, and its 52-week low is Rs 259.50, recorded on 27 January 2026.

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