Contract research, development and manufacturing organisation Cohance Lifesciences, formerly Suven Pharmaceuticals, is strengthening its antibody-drug conjugate (ADC) strategy with fresh investments in two biotechnology companies. It is investing an additional $13 million in NJ Bio and making a controlling investment of $5 million in Aruka Bio, expanding its capabilities and presence in the growing ADC segment.

The investments will aid in deeper integration of NJ Bio’s customer-facing services and focused development of Aruka’s proprietary pipeline through potential partnerships. Both the transactions will be funded through internal accruals, Cohance said on Thursday (September 3, 2026).

The company 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 retain the remaining 32.7% and continue to lead NJ Bio while also advancing Aruka’s pipeline and partnership initiatives.

NJ Bio will remain focused on customer-facing contract research, development and manufacturing services. Aruka is a biotechnology firm based in Princeton, New Jersey and focused on developing next-generation antibody-drug conjugates. Its lead programme is currently at the preclinical stage.

Cohance’s $5 million equity investment will fund the buyout of other existing shareholders and convertible noteholders along with working capital. On completion, Aruka will be owned 65% directly by Cohance, 25% by NJ Bio and 10% by Dr. Jain.

The investment consolidates control of Aruka’s proprietary ADC platform, positioning it to pursue co-development, licensing and other collaborations with pharmaceutical and biotechnology partners as its pipeline progresses.

The decisions follows a review of NJ Bio’s performance and integration since the original investment in December 2024 when Cohance had acquired a 56% equity stake in a $64.4 million transaction.