Indian Pharma major Sun Pharmaceuticals Ltd. said that it has entered into agreement to acquire about 16.7 percent shares on fully diluted basis, in Lyndra Therapeutics Inc., for USD 30 million.

Lyndra Theraputics is a company based in Massachusetts, USA, engaged in the business of developing novel delivery technology for long-acting oral (LAO) therapies.

Sun Pharma stated that the strategic investment is to support development of innovative pharmaceutical delivery technologies and get access to the technology for certain molecules and territories.

The US company had a turnover of USD 10.7 million in 2022. Lyndra was founded in 2015 with technology that emerged from the Langer Lab at MIT. Robert Langer, Sc.D., Giovanni Traverso, M.D., Ph.D., Andrew Bellinger, M.D., Ph.D. and Amy Schulman, J.D., founded the company to develop, expand and eventually commercialize the technology that would ultimately become the LYN drug delivery platform.

In July 2023, the company elevated its ten COO Jessica Ballinger to the Chief Executive Officer post.