Cohance Lifesciences announces USD 10 mn investment in US-based arm

New Delhi, Aug 12 (PTI) Cohance Lifesciences 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.
    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.
    "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.
     "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.

(This story has not been edited by THE WEEK and is auto-generated from PTI)