Reliance Life Sciences investing in GeneMedix Plc.

Reliance Life Sciences investing in GeneMedix Plc.

Mukesh Ambani’s Reliance Life Sciences has announced their decision to invest in UK bio-pharmaceutical company GeneMedix Plc.

The company is planning to invest as much as $63.2 million to get controlling interest of 74% of the enlarged share capital of GeneMedix.

This investment proposal has not yet received the approval of the shareholders in the company.

Julian Attfield, chief executive of GeneMedix said on this new development: “The investment will allow GeneMedix to continue to develop its existing portfolio of products at an accelerated pace and also bring new biopharmaceutical products under development. With the expertise within the company and the enhanced infrastructure and support brought by Reliance Life, we are looking forward to an exciting period of integration and expansion over the coming year.”