Achira is engaged in the development and commercialisation of point-of-care (PoC) medical test kits in IndiaCipla has signed definitive agreements for further investment of up to Rs 26 crore (approx) in Optionally Convertible Preference Shares of Achira Labs, an associate company in four tranches, subject to completion of certain milestones. Achira is engaged in the development and commercialisation of point-of-care (PoC) medical test kits in India.Since Cipla’s previous investment in June 2022, Achira has made significant developments in the Product Development and R&D space. Under the completion of the first tranche of investment, Cipla shall hold 27.27 per cent of the total voting rights in Achira.
Achin Gupta, CEO – One India Business, Cipla said, “Our decision to invest more in Achira is backed by Cipla's commitment to advance in the PoC diagnostics space. We aim to reduce the existing gap in the ecosystem, our strategic financing will enable Achira to commercially launch and further develop test panels. We remain committed to providing easy access to quality diagnostic services across India.”
