Suven Pharmaceuticals announced the acquisition of a controlling stake in NJ Bio Inc. (NJ Bio) with an investment of $64.4 million.Based in Princeton, NJ Bio is a premier ADC/XDC-focused CRDMO offering cutting-edge solutions across the ADC value chain. It was founded by Dr Naresh Jain, a well renowned scientist in the ADC space, holding PhD from Boston University & Post Doctoral Research Fellow at The Scripps Research Institute, California. He had previously founded The Chemical Research Solution LLC (an ADC CRO) and served in senior R&D roles at J&J for 8+ years. NJ Bio has served 150+ customers, delivered over500 projects in 5 years, and won the prestigious World ADC Awards for four consecutive years (2021-24). The transaction is expected to close before the end of December 2024. On this 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. NJ Bio`s capabilities and established customer relationships will accelerate Suven`s journey as a global leader in this fast-growing ADC/XDC segment which is emerging as a very important modality and has improved the lives of well over 100,000 patients already.�Powered by Capital Market - Live News

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. Powered by Capital Market - Live News

Net profit of Suven Pharmaceuticals rose 3.33% to Rs 82.21 crore in the quarter ended September 2024 as against Rs 79.56 crore during the previous quarter ended September 2023. Sales rose 11.54% to Rs 257.72 crore in the quarter ended September 2024 as against Rs 231.05 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales257.72231.05 12 OPM %40.3642.40 - PBDT116.46117.30 -1 PBT99.50105.41 -6 NP82.2179.56 3 Powered by Capital Market - Live News

Suven Pharmaceuticals announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 28 November 2024 .Powered by Capital Market - Live News

Suven Pharmaceuticals will hold a meeting of the Board of Directors of the Company on 12 November 2024.Powered by Capital Market - Live News