Cohance Lifesciences Limited is set to strengthen its Antibody-drug Conjugate (ADC) strategy with two proposed transactions: an additional $13 million investment in NJ Bio and a controlling investment of $5 million in Aruka Bio. These moves aim to deepen integration, leverage proprietary pipelines, and enhance CRDMO capabilities. The transactions are expected to be funded through internal accruals and are anticipated to complete by September 2026.
Cohance Lifesciences Enhances ADC Strategy with Key Investments
Cohance Lifesciences Limited announced on September 3, 2026, two strategic transactions designed to bolster its Antibody-drug Conjugate (ADC) capabilities. The company plans an additional USD 13 million investment in NJ Bio and a controlling investment of USD 5 million in Aruka Bio. These significant investments, totaling USD 18 million, will be financed through internal accruals, underscoring Cohance’s commitment to advancing its ADC platform.
NJ Bio: Ownership Increase and Integration
Cohance will increase its common-equity ownership in NJ Bio from 56.0% to 67.3% by acquiring the holdings of Ms. Priyashri Nayak and the Jain Family Irrevocable Trust. Dr. Jain will continue to hold 32.7% and will lead NJ Bio, while also driving Aruka’s pipeline and partnership initiatives. This closer integration aims to combine NJ Bio’s payload-linker and bioconjugation expertise with Cohance’s manufacturing capabilities, enhancing end-to-end CRDMO services.
Aruka Bio: Controlling Investment and Platform Development
The USD 5 million investment in Aruka Bio will provide Cohance with control of Aruka’s proprietary ADC platform. Aruka Bio, a private biotechnology company based in Princeton, New Jersey, focuses on developing next-generation antibody-drug conjugates, with its lead program currently in the preclinical stage. Following the investment, Aruka will become Cohance’s direct subsidiary. The plan is to pursue co-development, licensing, and collaborations with pharmaceutical and biotechnology partners.
Transaction Details and Leadership Commentary
Following these transactions, Aruka is expected to be owned 65% by Cohance, 25% by NJ Bio, and 10% by Dr. Jain, before further dilution from Dr. Jain’s performance-linked equity award. Completion of these deals is anticipated by the end of September 2026, subject to definitive agreements and regulatory approvals. Dr. Naresh Jain expressed his commitment to working across both businesses, supporting NJ Bio’s growth and eventually focusing full-time on Aruka as CEO. Umang Vohra, Executive Chairman and Group CEO of Cohance Lifesciences, stated that this reorganization provides clear focus for each business and is expected to strengthen overall performance.
Source: BSE
