Suven Pharmaceuticals announced the acquisition of a controlling stake in NJ Bio Inc. (NJ Bio) with an investment of $64.4 million.
Based in Princeton, NJ Bio is a premier ADC/XDC-focused CRDMO offering cutting-edge solutions across the ADC value chain. It was founded by Dr Naresh Jain, a well renowned scientist in the ADC space, holding PhD from Boston University & Post Doctoral Research Fellow at The Scripps Research Institute, California. He had previously founded The Chemical Research Solution LLC (an ADC CRO) and served in senior R&D roles at J&J for 8+ years. NJ Bio has served 150+ customers, delivered over
500 projects in 5 years, and won the prestigious World ADC Awards for four consecutive years (2021-24).
The transaction is expected to close before the end of December 2024.
On this acquisition Suven Executive Chairman, Vivek Sharma, said “We are very excited to partner with Dr Jain and his team and welcome them to the Suven family. This transaction is in line with our vision of being a technology-led CDMO, offering end-to-end solutions in emerging modalities like ADCs. NJ Bio's capabilities and established customer relationships will accelerate Suven's journey as a global leader in this fast-growing ADC/XDC segment which is emerging as a very important modality and has improved the lives of well over 100,000 patients already.”