- Suven Pharmaceuticals has acquired a controlling stake in NJ Bio for $64.4 million.
Suven Pharmaceuticals has announced the acquisition of a controlling stake in NJ Bio Inc., a Princeton-based CRDMO specialising in Antibody-Drug Conjugates (ADCs) and related emerging modalities. The investment, worth $64.4 million, aligns with Suven’s strategic vision of offering end-to-end solutions in cutting-edge pharmaceutical technologies. The transaction is expected to conclude by December 2024.
NJ Bio, founded by Dr Naresh Jain, has established itself as a premier player in the ADC field, completing over 500 projects for 150+ customers in the last five years. The company has also earned industry acclaim, securing the World ADC Awards for four consecutive years (2021-2024). Dr Jain brings extensive expertise, having previously held senior R&D roles at Johnson & Johnson and founding The Chemical Research Solution LLC, an ADC-focused CRO.
Speaking on the 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.” He further highlighted that NJ Bio’s capabilities and strong customer relationships will support Suven’s ambition to become a global leader in the fast-growing ADC/XDC sector.
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