In an exchange filing on Wednesday, Shilpa Medicare said its wholly owned subsidiary, Shilpa Biocare Pvt Ltd, will acquire a 30.4% equity stake in Gate2Brain through a transaction valued at €7 million.
The investment includes a cash infusion of €0.5 million, equity issued in exchange for services worth €5.5 million, and an additional €1 million earmarked for the development of Gate2Brain’s lead programme.
As part of the partnership, Shilpa Biocare will become a strategic shareholder in Gate2Brain and serve as the contract manufacturing, chemistry-manufacturing-controls (CMC) and regulatory partner for G2B-002, the biotech firm’s lead oncology asset.
Barcelona-headquartered Gate2Brain is developing peptide-based drug delivery technologies designed to transport therapies across the blood-brain barrier, a longstanding challenge in the treatment of neurological diseases and brain cancers.
The company is currently in the pre-clinical stage of development.
Its lead candidate, G2B-002, is being developed for aggressive brain tumours including diffuse intrinsic pontine glioma (DIPG) and pediatric glioblastoma, two rare cancers with limited treatment options.
The therapy uses Gate2Brain’s proprietary MiniAp4 peptide-shuttle technology to deliver SN-38, a potent anti-cancer compound, directly across the blood-brain barrier.
According to the company, G2B-002 has received Orphan Drug Designation from both the US Food and Drug Administration and the European Medicines Agency, highlighting its potential in treating rare and life-threatening conditions.
Pre-clinical studies have demonstrated significantly higher drug transport into the brain compared to conventional approaches, while the technology has also shown promise across other rare pediatric cancers, including Ewing sarcoma, rhabdomyosarcoma and neuroblastoma.
Shilpa Medicare said the collaboration provides an opportunity to participate in the long-term commercialisation of the platform while leveraging its manufacturing and regulatory expertise to advance G2B-002 into human trials.
Clinical batches are expected to be produced next year, with first-in-human studies targeted by FY28.
The company also highlighted the sizeable market opportunity. The global glioblastoma treatment market is estimated at approximately $3 billion in 2025 and is projected to exceed $6 billion by 2035. The pediatric brain tumour market is estimated at around $1.5 billion, while the market for DIPG therapies is expected to reach nearly $1.2 billion by 2035.
The transaction represents Shilpa Medicare’s fourth strategic equity partnership and forms part of its broader strategy of investing in differentiated, high-potential healthcare innovations.
Commenting on the deal, Managing Director Vishnukant Bhutada said Gate2Brain’s blood-brain-barrier delivery platform is among the most differentiated CNS technologies evaluated by the company and offers significant long-term value creation potential.
Shares of Shilpa Medicare were trading 0.44% lower at ₹515.10 on Wednesday. Despite the day’s decline, the stock has gained nearly 63% so far in 2026.
