What was filed
Lupin Limited disclosed that its wholly owned subsidiary, Lupin Inc. U.S.A., has entered a licensing agreement granting an exclusive, perpetual license for two of its oncology programs — LNP7457 (PRMT5) and LNP8701 (SOS1) — to Kaveri Therapeutics, Inc., a U.S.-based clinical-stage oncology company. In exchange, Lupin Inc. received a majority equity stake in Kaveri. The transaction was completed on July 20, 2026, simultaneously with the execution of the licensing arrangement, and Lupin said it does not fall within related party transactions.
Rather than a cash acquisition, the structure is a spin-out: Lupin has moved two of its early-stage oncology assets into a separately led company that will carry them forward, while retaining a controlling shareholding.
The structure and the new company
Kaveri Therapeutics was incorporated in Delaware on May 20, 2026, and, per the filing, reports nil turnover and nil net worth — a newly formed vehicle created to develop these assets. It focuses on early-stage clinical development of therapies for solid tumors, including lung, pancreatic, ovarian, and CNS-related cancers.
Under the arrangement, Lupin Inc. will also provide seed funding to Kaveri, which will operate as an independent entity led by CEO Kristi Jones and CMO Dr. Robert Pierce. Kaveri is expected to raise additional capital to fund global clinical trials of the two programs. The filing notes that both programs reported positive data at the American Society of Clinical Oncology (ASCO) meetings in 2025 and 2026 respectively; no further trial detail is disclosed.