Cipla invests $1.5 million for 14.6% stake in USA’s Chase Pharma

14 May 2014

Indian drugmaker Cipla has said it will acquire a 14.6% stake in US-based Chase Pharmaceuticals for $1.5 million through its wholly owned subsidiary Cipla (EU), UK.

Washington DC-based Chase is an early-stage drug development company focused on developing new approaches for treating Alzheimer's disease. Cipla also said it will make an additional $4.5 million investment in Chase on the achievement of certain milestones.

The Indian drugmaker's investment, through Cipla New Ventures, is part of a syndicate that consists of Edmond de Rothschild Investment Partners and New Rhein Healthcare, the company said in a statement to the Bombay Stock Exchange.

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