Corporate News
Cohance, a company involved in drug product development and manufacturing, has announced a series of strategic acquisitions to strengthen its position in the antibody-drug conjugate (ADC) space. These include acquiring an additional 244,587 shares of its subsidiary, NJ Bio, Inc., for USD 12,963,111, increasing Cohance's ownership to 67.3%, and investing approximately USD 5 million in Aruka Bio, Inc., a company focused on novel ADC platforms, which will result in Cohance (or a subsidiary) holding approximately 65% of Aruka Bio. These transactions, considered related party transactions, are expected to be completed by the end of September 2026, subject to customary closing conditions and regulatory approvals, and are intended to enhance Cohance's capabilities and partnerships within the growing ADC market. NJ Bio, incorporated in 2017 and based in the USA, has seen increasing revenue over the past three years, while Aruka Bio, incorporated in 2023, is currently operating with zero revenue.