Suven Pharmaceuticals Ltd Share Price – NSE /  BSE

Pharmaceuticals, Small Cap

Suven Pharmaceuticals will hold a meeting of the Board of Directors of the Company on 12 February 2025.

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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.

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The $64.4 million deal includes both primary equity infusion and secondary acquisition. As part of the deal, Suven Pharma will invest $15 million in primary equity to accelerate NJ Bio's growth initiatives.

The transaction includes acquiring 9.3 lakh common equity shares from existing shareholders of NJ Bio and subscribing to 2.8 lakh newly issued common equity shares.

The definitive documents grant Suven a call option to purchase the remaining shares of NJ Bio and a put option for NJ Bio's shareholders to sell their shares to Suven, both exercisable after five years. If exercised, Suven could acquire 100% of NJ Bio's equity.

NJ Bio is a Contract Research, Development, and Manufacturing Organization (CRDMO) based in Princeton, New Jersey, specializing in antibody-drug conjugates (ADCs) and other advanced drug conjugates (XDCs), which are key segments in targeted therapeutics.

Following the acquisition, NJ Bio will become a subsidiary of Suven Pharma, with its two subsidiaries, NJBIO India Pharmaceutical Private Limited and NJ Biotherapeutics, LLC, becoming step-down subsidiaries.

Suven Pharmaceuticals is in the business of Contract Development & Manufacturing Organisation (CDMO), catering to the needs of the global pharma industry.

The drug maker’s consolidated net profit increased 3.34% to Rs 82.21 crore on 11.54% rise in revenue from operations to Rs 257.72 crore in Q2 FY25 over Q2 FY24.

Shares of Suven Pharmaceuticals rose 0.78% to close at Rs 1,305.30 on Friday, 6 December 2024.

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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.”

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