Auro Vaccines LLC, 100% subsidiary of Aurobindo Pharma USA Inc., USA, which in turn is 100% subsidiary of Aurobindo Pharma, has entered into a definitive agreement to acquire certain business assets from Profectus BioSciences Inc., a clinical-stage vaccine development company. The assets are acquired for an upfront cash consideration $11.29 million with potential earn outs on achieving certain milestones.
The acquisition provides access to - Proprietary & Innovative technology platforms for Prophylactic use & Therapeutic use along with Global R&D center.
Aurobindo Pharma is engaged in manufacturing pharmaceutical products. It offers active pharmaceutical ingredients, intermediates and generic formulations like astemizole, domeperidone and omeprazole; anti-infective, oral and sterile antibiotics, pain management and osteoporosis segments.
