Cohance Lifesciences will invest $18 million in NJ Bio and Aruka Bio to strengthen its antibody-drug conjugate strategy, increasing its NJ Bio ownership to 67.3% and taking a 65% stake in Aruka Bio.
Cohance Lifesciences Ltd on Thursday announced an investment of USD 18 million, including USD 13 million in NJ Bio, to strengthen its antibody-drug conjugate (ADC) strategy.
The company, formerly known as Suven Pharmaceuticals, said the USD 13 million additional investment in NJ Bio will increase its common-equity ownership from 56 per cent to 67.3 per cent. The USD 5 million investment in Aruka Bio will provide Cohance a 65 per cent controlling stake in the firm.
Both transactions will be funded through internal accruals, the company said in a release.
The re-organisation aims to integrate NJ Bio’s customer-facing services with Cohance's manufacturing capabilities to support end-to-end CRDMO development. NJ Bio will remain focused on contract research and manufacturing.
Aruka Bio, a Princeton-based biotech firm, focuses on next-generation ADCs. The investment will fund the buyout of existing shareholders and working capital, positioning Aruka to pursue licensing and collaborations with pharmaceutical partners.
The transactions follow a review of NJ Bio's performance since December 2024. Completion is expected by the end of September 2026, subject to definitive agreements and customary closing conditions.
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