Cohance Approves $18 Million ADC Investments In NJ Bio, Aruka Bio

Board approved USD 13m investment to raise NJ Bio stake from 56% to 67.3% and USD 5m for 65% of Aruka Bio; completion targeted by end-September 2026. Advances Cohance’s ADC strategy: tighter integration of NJ Bio’s customer-facing CRDMO with Cohance’s manufacturing platform and control of Aruka’s novel ADC pipeline. Funded from internal accruals, but Aruka is pre-revenue and preclinical; transactions are related-party and subject to definitive agreements, approvals and closing conditions.