M&A

M&A

Suven Pharma to acquire 56% stake in US-based CRO NJ Bio for $64-M

Economic Times  

Hyderabad-headquartered, publicly-listed Suven Pharmaceuticals will acquire a 56% controlling stake in Princeton,NJ (USA)-based NJ Bio Inc for USD 64.4 million.NJ Bio's capabilities and customer relationships are expected to help Suven become a leading player in the fast-growing ADC/XDC segment.NJ Bio Inc is a Contract Research Organization (CRO) and Contract Development and Manufacturing Organization (CDMO). Besides Princeton, it has chemistry facilities in Bristol (PA), US and Mumbai. The firm provides integrated chemistry and biology services to companies in the biotech and pharmaceutical sectors. Its services include Antibody-Drug Conjugates (ADCs) and Bioconjugation, Protein and Antibody Production, Cell-Based Functional Assays, Nucleotide and Oligonucleotide Synthesis, mRNA Synthesis and Bioanalytical Services.