Cohance Lifesciences Invests $18M in NJ Bio and Aruka Bio
Cohance Lifesciences Limited announced two strategic transactions to bolster its Antibody-drug Conjugate (ADC) strategy. The company will invest an additional USD 13 million in its subsidiary NJ Bio, increasing its stake from 56% to 67.3%. Concurrently, Cohance will invest USD 5 million in Aruka Bio, Inc., a step-down associate, acquiring approximately 65% ownership. These investments, funded by internal accruals, aim to integrate NJ Bio's customer-facing capabilities with Cohance's manufacturing platform and advance Aruka Bio's proprietary pipeline. Dr. Naresh Jain will continue as CEO of NJ Bio and also assume the CEO role at Aruka Bio. Both transactions are subject to regulatory approvals and definitive agreements.
Key Highlights
- Cohance Lifesciences invests $13M in subsidiary NJ Bio, increasing stake to 67.3%.
- Cohance Lifesciences invests $5M in associate Aruka Bio, acquiring ~65% stake.
- Transactions aim to strengthen ADC strategy and integrate manufacturing capabilities.
- Dr. Naresh Jain to lead both NJ Bio and Aruka Bio as CEO.
- Investments funded through internal accruals, subject to regulatory approvals.
Price Impact
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