Laurus Labs Acquires 60% Stake in Galenvs Sciences for USD 3.75M

Laurus Labs Ltd announced its Board of Directors has approved the acquisition of a 60% stake in Canada-based Galenvs Sciences Inc. for a pre-money valuation of USD 3.50 million. The total investment will be USD 3.75 million, comprising a primary infusion of USD 2.75 million for 44% equity and a secondary acquisition of USD 1.00 million for 16% equity from the founder. Galenvs is a contract research and development organization (CRO/CDMO) specializing in oligonucleotide synthesis and magnetic-nanoparticle technologies for diagnostics and therapeutics. This acquisition is expected to bring synergy, expand Laurus Labs' R&D pipeline for oligonucleotides, and provide a North American growth opportunity. Galenvs, with a CY 2025 turnover of CAD 1.65 million, will become a subsidiary of Laurus Labs, and its subsidiary, Galenvs Solutions Inc., will become a step-down wholly owned subsidiary.