Cheaper cancer care therapy earns big bucks for pharma company
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India's cell and gene therapy pioneer ImmunoAct has turned profitable in its first full year of operations, a rare feat in the country's emerging startup landscape where research-based pharma enterprises encounter serious scale and cash flow challenges.ImmunoACT, in which Hyderabad-based drugmaker Laurus Labs has roughly 34% equity stake, saw revenues of ₹62 crore with a profit before tax of ₹12 crore in FY25, according to sources. The year before, ImmunoAct had revenues of ₹11 crore.Founded by immunologist Rahul Purwar in 2013, ImmunoACT was spun off from the department of bioengineering department of IIT Bombay in 2018.ImmunoACT's NexCAR19 is the first indigenously developed breakthrough cancer CAR-T (chimeric antigen receptor T-cell) therapy approved by India's central drug regulatory agency in October 2023.NexCAR19 was formally launched in India in April 2024 at a price ~90% cheaper than its US and European counterparts like Novartis and Gilead, making it far more affordable for India and low-and-middle income countries, on its potential approval. So far, the therapy has been infused in over 350 patients across 70 hospitals in India.In CAR-T treatment, the patient's immune cells are extracted and through a maze of re-engineering processes infused back to recognize and kill cancer cells, giving a longer remission to patients as compared to the conventional options like immunotherapy or bone marrow transplants. The therapy is used when all other options are exhausted.Each CAR-T dose (one-and-done infusion) costs around ₹30 lakh, which was initially priced at ₹42 lakh, and is expected to see a further decline as demand picks up.Meanwhile, ImmunoACT has recently appointed former managing director of Roche India V Simpson Immanuel as its strategic advisor.Rahul Purwar added, "We needed someone who understands not just the commercial landscape, but also the nuances of innovation, patient access, and global expansion."Earlier this year, Immuneel Therapeutics, backed by leading names like Kiran Mazumdar-Shaw and globally renowned oncologist Siddhartha Mukherjee secured approval for Qartemi, its cell therapy for adult B-cell non-Hodgkin Lymphoma, in India. Companies like Cipla , Dr Reddy's Labs and Bharat Biotech are investing heavily in new CAR-Ts.Globally, CAR-Ts are at the frontiers of a range of cancer treatments, attracting billions of dollars in investments from large drugmakers. The market for such therapies is expected to touch $134 billion by 2034 from around $10 billion at present.
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By N Manoharan and Diya Parthasarathy In his recent public address at Gangaikonda Cholapuram, Tamil Nadu, Prime Minister Modi pointed out the legacy of the Cholas in various arenas, especially in the maritime domain. But one wonders what the larger context of the Cholas' maritime ventures was, and how relevant it is today. Understanding the Cholas' maritime ventures is necessary to realise India's maritime tradition. Acknowledging this, a decade back, the Centre released a stamp to commemorate the contribution of Cholas in laying 'a strong foundation for promotion of trade, commerce and cultural exchanges which brought fabulous economic prosperity and expansion of Indian culture and heritage across the Indian Ocean to the land of South East Asia.' The Indian Navy undertook the 'Chola Expedition' in 2008 to replicate the 'invasion' of Srivijaya kingdom (Sumatra, Southeast Asia) by Rajendra Chola I in 1017 CE. By comprehending maritime ventures during the Chola period, it is possible to understand the present Chinese ventures in the Indian Ocean under the garb of the Belt and Road Initiative. The Chinese indeed had trade connections, but not in the present form of economically tethering countries along the Maritime Silk Route. There were two main interlinked drivers for the Cholas' maritime projection: Mercantilism and military expansion. At the turn of the first millennium, the trade patterns witnessed a transformation from pre-emporia to emporia. Pre-emporia trade denoted shipping of goods directly from the source of production to the place of consumption. Whereas, the emporia trade pattern meant that several intermediate ports catered to the breaking up of bulk goods for retail sales and purchases. Coinciding with such a change in trade pattern was the rise of 'corporate empires' like the Cholas, the Srivijaya Empire, the Khmer Kingdom of Cambodia, Champa in Vietnam, and the Song Dynasty in China. Varieties of goods were traded among the ports of these regions that included metals, spices, perfumes, cosmetics, precious stones, textiles, and even animals like elephants and horses. Significantly, customs levied on these goods that transited through seas constituted a chunk of the coffers of corporate empires. Though such a financial network gave a kind of order in these 'corporate' empires, it also led to disputes among those empires that tried to arm-twist the transiting trading crafts to serve their economic and political interests. The dispute started when the Srivijayans became avaricious and imposed a high levy for the passage of goods carriers through Southeast Asia. The Cholas did not take it kindly and wanted to get away from the 'Malacca dilemma' posed by the Southeast Asian kingdom. The Srivijaya rulers were also trying to control the land crossing across Kra Isthmus. Rajendra Chola went on to occupy Malaysia to control the Malacca Straits and also acquired Java and Sumatra by defeating Sailendra rulers during his Digvijaya. As China emerged as a leading trading point and market, securing sea lanes of communication became imperative. The Chinese considered the Cholas ('Chulian' by the Chinese) as a 'first-class' trade partner. Chola kings wanted to send a clear message to the Chinese that they would not hesitate to use military options against the obstructing elements (both state and non-state) to ensure the free flow of goods. This 'choke point syndrome' pervades even today, although the Chinese are more worried now than the Indians were then. To achieve the above two objectives, the Cholas depended on a strong and well-organised navy that was built over a period of time. Kings used to get a good deal of their income from trade and could thus afford to maintain a large and powerful navy without exhausting their land revenue base. The Chola Navy consisted of an armada of ships that were constructed and used for trade purposes. According to historical records, the Chola armada comprised destroyers, frigates and battleships. Apart, they used colandia, large expeditionary vessels, and sangara, large oceangoing single log vessels, to transport troops and logistics. These ships had the capability and experience to travel long distances. Kattumarams were small boats of wood tied together to float in shallow waters and to move goods from large ships to shore, and also to make amphibious attacks. The Chola Navy also included a strong intelligence wing to track intrusion of foreign naval forces. The Chola seafarers mostly used winds, heavenly bodies and currents to sail across seas. The kings were said to have encouraged the study of astronomy, geography and cartography as part of their maritime expeditions. A specialised study on the science of shipping and ship-building was patronised and pursued. Apart from commercial and trade interests, there were larger politico-strategic and cultural drivers behind the maritime ventures of the Cholas. They had to prove their might both in peninsular India and in the maritime neighbourhood. They had to protect trade routes and traders of Tamilagam. It was, in fact, a matter of survival and pride. Also, as Saivites, they considered it their religious duty to carry Saivism beyond Indian shores. Such drivers are true in the present context as well. It is intriguing to note why the Cholas did not pay attention to West Asia and Africa as much as they focused on South and Southeast Asia. One wonders whether it was because of the quantum of direction of trade that was flowing mostly from the west to the east, or did the Cholas consider Africa and West Asia beyond their reach? This aspect needs a fresh enquiry. Manoharan is Director, and Diya is a Researcher at the Centre for East Asian Studies, Christ University, Bangalore
