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Lupin funding

lupin funding

Lupin announced on Thursday that it has received payment of USD 50 million from Germany-based Boehringer Ingelheim for the accomplishment of important milestones by its unique cancer drug, a possible target therapy for patients with difficult-to-treat cancers.

In a regulatory filing, Lupin stated ‘the achievement of key milestones for Lupin’s MEK inhibitor compound (LNP3794) that is planned for development by Boehringer Ingelheim in combination as potential targeted therapy for patients with difficult-to-treat cancers.’ 

In 2019, Lupin and Boehringer Ingelheim had penned a licensing, development, and commercialization agreement for Lupin’s novel oncology compound.

‘As part of the agreement, Lupin has received payment of USD 50 million from Boehringer Ingelheim for the achievement of key milestones,’ Lupin said in the regulatory filing. 

The company stated its new chemical entity research team is focused on creating a pipeline of extremely differentiated and innovative new chemical entities, essentially in the oncology space.

Shares of Lupin Ltd were trading 0.03 percent lower at Rs 1,195.40 each on BSE. 

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