Cohance Lifesciences Limited — Board Meeting, 07-12-2024: Outcome of Board Meeting

Suven Pharmaceuticals has executed definitive agreements to acquire 56% of NJ Bio, Inc. for a total investment of approximately USD 64.4 million. The transaction includes a mix of primary equity infusion and a secondary purchase of existing shares. NJ Bio is a leading CRDMO specializing in antibody-drug conjugates, with 2023 turnover reported at USD 21.6 million. This acquisition aims to enhance Suven's capabilities in the high-growth ADC market and will grant NJ Bio subsidiary status. The completion of the transaction is anticipated before the end of December 2024, pending customary closing conditions.