taiba Make Strategic Investment in Immuneel Therapeutics to advance CAR T-cell Research and Make Therapies More Affordable.

MUSCAT, Oman--(BUSINESS WIRE)--Jul 30, 2024--

In a significant move aimed at providing new hope to blood cancer patients, taiba has announced a strategic investment in Immuneel Therapeutics for $12 million. This strategic investment is intended to advance CAR T-cell research, with a particular focus on making CAR-T cell therapy commercially available at affordable prices and developing the first Phase 2 trial for CD19 CAR-T (IMN-003A) targeting B-cell malignancies, including leukemia and lymphoma.

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Dr Saif Alhasani, CEO of taiba Healthcare Group (Photo: AETOSWire)

CAR (Chimeric Antigen Receptor) T-cell therapy is a cutting-edge treatment pioneered in the United States, primarily used to treat blood cancers. Over the past few years, CAR-T therapies have seen significant growth, and the Indian CAR-T therapy is estimated to cost about one-tenth of comparable commercial products available globally.

“Our aim at taiba is to facilitate access to innovative medicines within developing countries, particularly in the Middle East and Africa. We achieve this through various approaches, including in-licensing such medicines and supporting new treatments within our region. Our focus remains on research and development, especially in the fields of cell and gene therapies.” Said Dr Saif Alhasani, CEO of taiba Healthcare Group.

About taiba

taiba Healthcare Group is based in Muscat, Oman, with regional offices throughout the MENA region. Established 40 years ago, taiba is committed to helping Rare disease patients across the GCC and beyond, within the Middle East and Africa. The group operates multiple subsidiaries, including pharmacies and multinational pharmaceutical distribution, and has recently launched Menagen, a state-of-the-art manufacturing facility focused on producing and commercializing niche innovative and hard-to-make medications.

About Immuneel

Immuneel Therapeutics, established in 2018 by Biocon founder Kiran Mazumdar-Shaw, Pulitzer Prize winner Siddhartha Mukherjee, and Kush Parker, is a biotechnology company specializing in gene therapies.

This investment by taiba marks a significant step forward in its mission to develop and make accessible ground breaking treatments for cancer patients.

Source: AETOSWire

View source version on businesswire.com:https://www.businesswire.com/news/home/20240730522797/en/

CONTACT: Sultan Alhasani

sultan@taibahealthcare.com

KEYWORD: OMAN MIDDLE EAST

INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL HEALTH ONCOLOGY

SOURCE: taiba Healthcare Group

PUB: 07/30/2024 09:31 AM/DISC: 07/30/2024 09:32 AM

http://www.businesswire.com/news/home/20240730522797/en