Acquisitions7 Dec 2024, 01:18 pm
Suven Pharmaceuticals Acquires 56% Stake in NJ Bio, Inc. for USD 100 Million
AI Summary
Suven Pharmaceuticals Limited has executed definitive agreements to acquire 56% equity share capital of NJ Bio, Inc., a Contract Research, Development, and Manufacturing Organization (CRDMQO) based in Princeton, New Jersey. The acquisition is for a pre-money equity value of the Target of USD 100 million, with Suven proposing to invest a total of USD 64.4 million. This includes USD 15 million of primary equity infusion into the Target for its growth initiatives. The acquisition is subject to customary closing conditions and is contemplated by way of secondary acquisition and primary subscription.
Key Highlights
- Suven Pharmaceuticals to acquire 56% equity share capital of NJ Bio, Inc.
- NJ Bio, Inc. is a CRDMQO based in Princeton, New Jersey with a focus on 'antibody-drug conjugates' (ADCs) and 'XDC'.
- The acquisition is for a pre-money equity value of the Target of USD 100 million.
- Suven proposes to invest a total of USD 64.4 million, which includes USD 15 million of primary equity infusion into the Target.
- The acquisition is subject to customary closing conditions.