Investment20 Mar 2025, 08:53 pm
Senores Pharmaceuticals Invests USD 468,640 in Wholly Owned Subsidiary Senores Pharmaceuticals Inc.
AI Summary
Senores Pharmaceuticals Limited has made a further investment in Senores Pharmaceuticals Inc. ('SPI'), a wholly-owned subsidiary of the Company, through a rights issue. This investment is a part of utilization of the issue proceeds as specified in the Prospectus dated December 24, 2024 for working capital requirements of SPI. SPI, a US-based company, holds the intellectual properties used by the Company for its ANDA approvals and enters into agreement with the marketing partners of the Company. The turnover of SPI for the financial year ended March 31, 2024 was USD 5,938,166.00.
Key Highlights
- Senores Pharmaceuticals Limited invests USD 468,640 in Senores Pharmaceuticals Inc.
- Investment is a part of the utilization of issue proceeds for working capital requirements of SPI.
- SPI holds the intellectual properties used by Senores Pharmaceuticals for its ANDA approvals.
- SPI's turnover for the financial year ended March 31, 2024 was USD 5,938,166.00.
- SPI is a US-based company and a wholly-owned subsidiary of Senores Pharmaceuticals Limited.