For acquisition of 14.6% stake in Chase Pharma
Cipla announced that Cipla (EU), UK, a wholly owned subsidiary of the Company has signed a definitive agreement to invest USD 1.5 million in Chase Pharmaceuticals Corporation Inc, US to acquire 14.6% stake in Chase on a fully diluted basis. Cipla will make an additional USD 4.5 million investment in Chase upon achievement of certain milestones.Chase is an early stage drug development Company developing novel approaches to improve treatments for Alzheimer's disease.
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