Concord Biotech Invests in Palvella Therapeutics for Groundbreaking Skin Drug

Concord Biotech Ltd has invested USD 10 lakh in Palvella Therapeutics, aiming to partner for the manufacturing and commercialization of a rare genetic skin disease treatment, 'Qtorin'. The investment will convert into around 71,446 equity shares, enhancing an export potential collaboration.

Concord Biotech Ltd announced a significant financial venture into Palvella Therapeutics, investing USD 10 lakh. The partnership aims to bolster manufacturing and commercialization efforts for 'Qtorin', a drug set to address severe, rare genetic skin disorders.

The investment translates into 71,446 equity shares, marking a strategic entry into the niche market of rare genetic treatments. Concord Biotech's regulatory filing highlighted the partnership's significance in potential product exports.

Palvella Therapeutics is dedicated to pioneering treatment advancements in rare genetic skin diseases, through rigorous clinical trials. This collaboration marks a crucial step for Concord Biotech in expanding its foothold in the biotech pharmaceutical landscape.

(With inputs from agencies.)