Cohance Lifesciences to invest USD 18 mn in NJ Bio, Aruka Bio

New Delhi, 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.

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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.

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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.