Date: September 18, 2026
Investment / Strategic Actions
Cohance Lifesciences Limited has completed its investment in compulsorily convertible preferred stock (CCPS) of NJ Bio Inc., USA, its subsidiary. The company remitted the aggregate consideration of USD 10 million towards subscription of new CCPS of NJ Bio.
Investment Details:
- Investment Amount: USD 10 million
- Instrument: Compulsorily Convertible Preferred Stock (CCPS)
- Number of CCPS: 188,680
- Price per CCPS: USD 53.00
- Conversion Terms: Convertible to equity shares of NJ Bio after 3 years in accordance with definitive agreements
- Post-transaction holding: Company will hold 188,680 CCPS of NJ Bio
Target Entity Details:
- Name: NJ Bio, Inc (formerly known as NJ Biopharmaceuticals LLC)
- Corporate Office: 350 Carter Road, Princeton, NJ 08540
- Business: Antibody Drug Conjugate (ADC) focused Contract Research, Development, and Manufacturing Organization (CRDMO)
- Capabilities: End-to-end capabilities across payload-linker synthesis, bioconjugation and analytical services, providing customized ADC solutions
- Industry: Pharmaceutical / Chemical Compounds CRDMO
- Incorporation History: Incorporated as limited liability company on October 23, 2017 in Bristol, Pennsylvania, USA; converted to incorporated corporation on August 1, 2022 in Delaware, USA
- Global Presence: Operations in USA and India (through subsidiary NJBIO India Pharmaceutical Private Limited)
Financial Performance:
- CY2023 Turnover: USD 20.6 million
- CY2024 Turnover: USD 32.6 million
- CY2025 Turnover: USD 23.5 million
Transaction Classification:
- Related Party Transaction: Yes (NJ Bio is a subsidiary of the Company)
- Promoter/Promoter Group Interest: No direct interest other than through the Company
- Transaction Nature: Conducted at arm's length
Strategic Rationale:
Cohance, along with its subsidiaries/affiliates, is engaged in contract development, manufacture and sale of drug products. NJ Bio is among the few CRDMOs in the high growth ADC and broader 'XDC' (other conjugation-based therapies) space. This investment reinforces Cohance's commitment to the ADC space and will support NJ Bio's growth initiatives including capital expenditure.
Regulatory Approvals:
The transaction will be in accordance with applicable provisions of FEMA (Overseas Investment) Regulations, 2022 read with rules and circulars made thereunder. The Company will make applicable regulatory filings with relevant authorities as required under applicable laws.
Compliance:
The disclosure is made pursuant to SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.