Suven Pharmaceuticals Acquires Stake in NJ Bio: A Strategic Leap in Emerging Modalities

Suven Pharmaceuticals announced its acquisition of a 56% stake in US-based NJ Bio Inc for USD 64.4 million. This move aligns with Suven's vision to advance as a technology-led CDMO, enhancing their leadership in ADC/XDC modalities. The transaction is expected to finalize by December 2024.

In a strategic move, Suven Pharmaceuticals has declared its decision to acquire a controlling stake in NJ Bio Inc. The acquisition, valued at USD 64.4 million, will secure Suven a 56% interest in the US-based biotech company, NJ Bio.

According to Suven Executive Chairman Vivek Sharma, this acquisition aligns perfectly with their strategic vision of becoming a technology-driven Contract Development and Manufacturing Organization (CDMO). He emphasized that the integration of NJ Bio’s expertise will bolster Suven’s position in the innovative and rapidly growing antibody-drug conjugates (ADC/XDC) sector.

NJ Bio founder and CEO Naresh Jain acknowledged the company’s significant achievements over recent years, particularly in addressing complex ADC challenges, and expressed optimism about the value creation this partnership would bring. The acquisition is set to be finalized by the end of December 2024.

(With inputs from agencies.)