Indian generics maker Lupin seeds US spinout Kaveri with cash, clinical-phase cancer assets

Biotech Indian generics maker Lupin seeds US spinout Kaveri with cash, clinical-phase cancer assets By Nick Paul Taylor Jul 21, 2026 8:20am Lupin solid tumor spinoff Emerging Biopharma India-based Lupin has spun out two clinical-phase cancer drug candidates to create Kaveri Therapeutics, a U.S.-based startup that plans to raise cash for further development. Kaveri’s programs hit targets pursued by major drugmakers including AstraZeneca, Bayer and Bristol Myers Squibb. The two assets are the PRMT5 inhibitor LNP7457 and SOS1 inhibitor LNP8701. Lupin reported phase 1 data on LNP7457 in 2025 and delivered first-in-human results on LNP8701 earlier this year. Both phase 1 studies generated preliminary signs of efficacy and evidence that the molecules are well tolerated in people with metastatic solid tumors. Lupin, an Indian manufacturer of generics, specialty medicines and biosimilars, has opted against taking the candidates deeper into the clinic itself. Rather, the drugmaker has granted Kaveri an exclusive license to the molecules. In return, Lupin has taken (PDF) an 82.2% stake in Kaveri, which will operate as an independent entity. The deal values the programs at $1.6 million. Lupin will provide the startup with seed funding, but Kaveri also plans to raise additional capital to support clinical development. Kaveri has hired Kristi Jones, whom Lupin described as “a seasoned biopharmaceutical leader,” as CEO, alongside Robert Pierce as chief medical officer. The executives will lead Kaveri in areas targeted by top biopharma companies. BMS is running phase 2/3 trials of a candidate aimed at PRMT5, and companies including AstraZeneca, BeOne Medicines, Ideaya Biosciences and Tango Therapeutics have molecules in the clinic. Amgen recently axed a PRMT5 inhibitor. Kaveri faces less competition in the SOS1 space. Active programs include BAY3498264, a molecule that Bayer took into the clinic in 2024. Boehringer Ingelheim’s phase 1 trial of BI 1701963 remains active, but the SOS1 inhibitor demonstrated limited efficacy as a monotherapy. Meanwhile, BMS returned an SOS1 inhibitor licensed in a deal with Schrodinger and terminated a phase 1 trial of an asset it acquired from Mirati Therapeutics. Lupin solid tumor spinoff Emerging Biopharma Biotech Deals