Natco Pharma to raise total investment in eGenesis to $25 million

Hyderabad: Natco Pharma is deepening its bet on gene-editing biotech firm eGenesis. The company said it will increase its planned investment through subsidiaries to $16.7 million from the earlier announced $14 million.

Under the revised plan, Natco’s Canadian subsidiary will invest $13.7 million, while Natco Pharma USA LLC will contribute $3 million.

On completion, Natco’s total investment in the clinical-stage biotechnology company will rise to $24.7 million.

The move positions Natco in the multiplex gene-editing and genome-engineering platform being developed by eGenesis.