Shares of Natco Pharma Ltd. rose by 3% to a day’s high of Rs 1,555 on 4th September after the company announced that its wholly-owned Canadian subsidiary, Natco Pharma (Canada) Inc., has invested USD 8 million in the US-based biotechnology firm eGenesis, Inc.

Natco Pharma (Canada) invested $8 million in eGenesis to boost their presence in new-age therapeutic programs for critical medical needs, according to a company filing.

This investment will allow Natco Pharma’s subsidiary to acquire 40,629,761 shares of eGenesis, with the acquisition expected to be completed by 30th September.

In March, eGenesis announced the world’s first porcine kidney transplant in a living patient, authorised by the USFDA under the Expanded Access pathway.

The company noted that eGenesis’s EGEN platform is unique in addressing cross-species molecular incompatibilities and viral risks through genetic engineering, aiming to improve transplant outcomes.

Rajeev Nannapaneni, Vice Chairman and CEO of Natco Pharma, expressed excitement about collaborating with eGenesis, Inc. He believes their work in xenotransplantation could end the global transplant shortage and improve organ failure treatment by eliminating waitlist mortality.

The company’s market capitalisation rose to Rs 27,833 crore.

At 2:01 PM, the shares of Natco Pharma were trading 1.45% higher at Rs 1,552.85 on NSE.

Unlock profitable opportunities every day! Unicorn Signals provides actionable intraday trading signals for stocks and futures. Don’t miss out – download Unicorn Signals and start winning now!