Cohance Lifesciences announces $10 million investment in US-based arm
on Tuesday announced a strategic investment of USD 10 million (around Rs 87.6 crore) to expand
bioconjugation
capabilities at its US-based subsidiary,
NJ Bio
.
The investment advances Cohance's global expansion in niche technology-led modalities, enhancing its ability to support innovators from early development through late-phase clinical supply, the company said in a statement.
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The common good manufacturing practices (cGMP) compliant bioconjugation suite at NJ Bio's Princeton, New Jersey, facility significantly strengthens the company's capabilities to deliver fully integrated
Antibody-Drug Conjugate
(ADC) solutions, it added.
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"The investment ... strengthening our footprint in the rapidly growing ADC space. By integrating payload-linker development and bioconjugation capabilities under one roof, NJ Bio will be well-positioned to support accelerated development timelines and help bring life-saving therapies to patients faster," Vivek Sharma, Executive Chairman, Cohance Lifesciences, said.
In a separate statement, Cohance announced a Rs 23 crore investment and significant progress on its new oligonucleotide building block manufacturing facility in
Hyderabad
.
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"Together, these investments form part of Cohance's planned capacity expansion program across high-growth modalities, enhancing its ability to serve global innovators from early development to commercial supply," the company said.
Cohance Lifesciences, formerly
Suven Pharmaceuticals
, is an innovator-focused global Contract Research, Development, and Manufacturing Organization (CRDMO), formed through the merger of Cohance Life Sciences into Suven Pharmaceuticals.
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