Suven Pharmaceuticals will hold a meeting of the Board of Directors of the Company on 12 February 2025.Powered by Capital Market - Live News

Suven Pharmaceuticals has acquired 56% equity share capital of NJ Bio, Inc. (target company), at an aggregate consideration of USD 64.4 million, which includes USD 15 million of primary equity infusion into the target company. Powered by Capital Market - Live News

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