Lupin Subsidiary Licenses Oncology Programs for 82.2% Stake in Kaveri Therapeutics

Lupin Ltd's wholly owned subsidiary, Lupin Inc. U.S.A., has entered into a licensing agreement with Kaveri Therapeutics, Inc. U.S.A. The agreement grants an exclusive perpetual license for two oncology programs, LNP7457 (PRMT5) and LNP8701 (SOS1), to Kaveri. In exchange, Lupin Inc. has received an 82.2% equity stake in Kaveri, represented by 332,000 Common Shares. Kaveri, a clinical-stage oncology company, will advance these programs through global clinical trials and will also raise capital for further development. Lupin Inc. will provide seed funding to Kaveri. The transaction is valued at USD 1.6 million and has been completed simultaneously with the agreement's execution.