Aptuit lines up $100 mn for Laurus

The US-based contract drug development firm Aptuit plans to take a majority stake in the Hyderabad-based Laurus Labs by investing more than $100 million (Rs 400 crore) over the next four years.

Aptuit intends to combine its global offerings in drug development with Laurus' research and development, manufacturing expertise and its newly built facilities, to provide integrated services, technologies and manufacturing that span the entire drug-development cycle.

Laurus Labs, a start up company, is a knowledge resource and solutions provider with a research and development (R&D) centre near Hyderabad and a manufacturing plant in Visakhapatnam, which is currently under construction.

The new entity, to be named Aptuit Laurus, will initially provide services to clients in early-stage drug discovery, medicinal chemistry, process and formulation development, and a host of other related activities.

According to Aptuit's Chief Executive Officer Michael A Griffith, investments over the next four years would be used to build upon Laurus' development, manufacturing and informatics capabilities with the addition of a complete suite of development services, including medicinal chemistry, consulting and large-scale dosage form manufacturing. Thereafter, Aptuit Laurus would provide the full suite of services offered by Aptuit in the US and Europe, he added.