India, Sept. 3 -- image credit- freepik

Hyderabad-based Cohance Lifesciences has announced a strategic investment of $18 million- in NJ Bio ($13 million) and Aruka Bio ($5 million) to strengthen its Antibody-drug Conjugate (ADC) platform and expand its global CRDMO capabilities.

Both the transactions will be funded through internal accruals.The re-organisation establishes distinct priorities: deeper integration of NJ Bio's customer-facing services with Cohance, and focused development of Aruka's proprietary pipeline through potential partnerships.

Cohance will increase its common-equity ownership in NJ Bio from 56% to 67.3%, acquiring the entire holdings of Priyashri Nayak, and the Jain Family Irrevocable Trust. Dr Naresh Jain will ret...