Suven Pharmaceuticals has executed definitive agreements today, i.e. 07 December 2024, for an ownership of 56% equity share capital of NJ Bio, Inc. (the Target), by a mix of primary infusion and secondary acquisition at 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 for its growth initiatives.
NJ Bio, Inc. is a Princeton-based Antibody Drug Conjugate (ADC) focused CRDMO and one of the leading global players with end-to-end capabilities across payload-linker synthesis, bioconjugation and analytical services, providing customized ADC solutions that accelerate customers' discovery and development.