Cipla strengthens investment in Achira Labs to propel point of care diagnostics

New Delhi: Cipla Limited has announced a significant increase in its investment in Achira Labs Private Limited, a Bengaluru-based medical diagnostics company specializing in point-of-care (PoC) test kits.

The additional investment of up to Rs 26 crore will be made in four tranches, subject to certain milestones.

Achira Labs has made substantial progress in product development and research since Cipla’s previous investment in June 2022. Following the completion of the first tranche of investment, Cipla will hold 27.27% of the total voting rights in Achira.

Achin Gupta, CEO of Cipla Limited’s One India Business, expressed confidence in the decision to increase investment in Achira. He stated, “Our decision to invest more in Achira is backed by Cipla’s commitment to advance in the PoC diagnostics space. With the 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 towards providing easy access to quality diagnostic services across India.”

Achira Labs is known for its ISO 13485 compliant medical diagnostic products developed using microfluidic technology. The company’s objective is to make sophisticated medical tests more accessible at the point of diagnosis, treatment, and management. Leveraging leading-edge capabilities, robust collaborations, and deep expertise, Achira is dedicated to driving innovation in the field of medical diagnostics.