PRINCETON, N.J. and TOKYO, April 1, 2026 /PRNewswire/ -- NJ Bio, Inc. ("NJ Bio"), a leading provider of integrated drug discovery and development services and Ajinomoto Bio‑Pharma Services ("Aji Bio‑Pharma"), a leading provider of biopharmaceutical manufacturing services and platform technologies, today announced a research collaboration to expand access to AJICAP™, Aji Bio‑Pharma's site‑specific conjugation platform for NJ Bio's discovery‑stage and early development clients. This collaboration broadens NJ Bio's advanced antibody conjugation and linker capabilities, supporting the development of next‑generation antibody–drug conjugates (ADCs) and other targeted therapeutics.
Through the collaboration, NJ Bio will integrate the AJICAP™ platform into its discovery and development workflows, offering clients a robust and highly reproducible approach for site‑specific conjugation of cytotoxic and non‑cytotoxic payloads to antibodies. AJICAP™ enables precise chemical modification at defined lysine residues without the need for antibody engineering, preserving antibody structure and functionality while improving pharmacokinetics, therapeutic index, and overall developability. The platform supports a range of stable, hydrophilic linker systems and is readily incorporated into drug discovery and development programs.
AJICAP™ technology is widely recognized for its scalability, consistency, and compatibility with standard antibody production processes. By integrating this platform, NJ Bio strengthens its position as a comprehensive partner for biopharmaceutical companies seeking end‑to‑end support, from early drug design and discovery through preclinical development.
Clients will benefit from NJ Bio's deep expertise in medicinal chemistry, bioconjugation, and biologics development, combined with the precision, reproducibility, and flexibility of the AJICAP™ platform. Based on prior technical experience working with AJICAP™ technology, NJ Bio anticipates that this collaboration will help reduce development risk, shorten timelines, and improve overall project outcomes.
"Expanding our capabilities with AJICAP™ aligns strongly with NJ Bio's mission to deliver cutting-edge, high-value solutions that accelerate our clients' discovery programs," said Julien Dugal-Tessier, the President and Chief Scientific Officer at NJ Bio. "This collaboration enables us to offer a proven, scalable site-specific conjugation platform, expand access to AJICAP™ capabilities, and support the development of novel antibody-based medicines with improved efficacy and safety profiles."
"AJICAP™ was developed to enable precise and scalable antibody conjugation, and we are excited to extend its reach through this collaboration with NJ Bio," said Yasuyuki Otake, Corporate Executive, General Manager, Bio-Pharma Services Dept., Ajinomoto Co., Inc. "Together, we are enhancing the tools available to biopharma innovators to design and develop next-generation targeted therapies for patients."
About NJ Bio, Inc.
NJ Bio, Inc. is a leading Contract Research Organization (CRO) and Contract Development and Manufacturing Organization (CDMO) headquartered in Princeton, New Jersey, with additional chemistry facilities in Bristol, Pennsylvania and Mumbai, India. The company provides fully integrated chemistry and biology services to biotechnology and pharmaceutical companies, supporting programs from early discovery through GMP manufacturing. With deep expertise in bioconjugation, synthetic organic chemistry, protein‑based biopharmaceuticals, and GMP manufacturing, it specializes in ADCs, targeted protein degraders (TPDs), oligo‑conjugates, and other non‑oncology conjugated therapeutics. The organization delivers customized, science‑driven solutions designed to accelerate development timelines and reduce technical risk. NJ Bio has been recognized as "Best Contract Research Organization (CRO)" for multiple consecutive years at the World ADC Conference. Learn more: https://njbio.com/
About Ajinomoto Bio‑Pharma Services
Ajinomoto Bio‑Pharma Services is a fully integrated contract development and manufacturing organization with sites in Belgium, India, Japan, and the United States, providing support across gene therapy, APIs, and both large‑ and small‑molecule manufacturing. The company offers a broad range of innovative platforms and capabilities—from preclinical and pilot programs through commercial supply—including high‑potency APIs (HPAPI), continuous‑flow manufacturing, oligonucleotide synthesis, biocatalysis, CORYNEX® protein expression technology, and antibody–drug conjugation (ADC) services. Learn more: https://ajibio-pharma.ajinomoto.com
For further information, please contact: HERE
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NJ Bio, Inc. and Ajinomoto Bio‑Pharma Services Enter into Collaboration to Strengthen Support for Antibody-Drug Conjugate Development
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Financing supports U.S. critical mineral security and helps reshore the American steel supply chain
NASHWAUK, Minn., April 1, 2026 /PRNewswire/ -- Mesabi Metallics Company LLC (Mesabi Metallics), backed by the Essar Group, today announced that it has entered into a new $520 million senior secured credit facility with Valor Mining Credit Partners II, L.P. (VMP II), a dedicated mining and critical minerals credit fund managed by Breakwall Capital LP (Breakwall) in partnership with Vitol, as it advances toward commercial operations later this year.
Located on more than 16,000 acres in northern Minnesota, Mesabi Metallics is completing a $2.5 billion world-scale merchant Direct Reduction (DR) grade iron ore mine and pellet plant that will onshore a strategically important segment of the U.S. steel supply chain.
With over 750 construction workers currently onsite, the project represents one of the largest private-sector industrial investments in the state's history. Essar Group has already invested over $2 billion of equity into the project. The project has also received support from the U.S. Export-Import Bank (EXIM), underscoring growing federal recognition of the project's strategic importance to U.S. manufacturing and supply chain security for the American manufacturing, automobile, infrastructure, shipbuilding and defense sectors.
"The partnership with Breakwall is an important milestone for Mesabi Metallics," said Joe Broking, President and CEO of Mesabi Metallics. "We are bringing to market a brand-new American source of the highest quality DR-grade iron ore that will help U.S. steelmakers reduce reliance on imported raw materials and international supply chains. America is already the global leader in the next generation Electric Arc Furnace-based steelmaking — the cleanest and most energy efficient way of making steel. Mesabi Metallics will create hundreds of high-quality jobs in northern Minnesota for several decades to come and will support the reshoring of American industrial dominance."
"Mesabi Metallics is a great example of the type of high-quality company and large-scale mining project we seek to partner on — anchored by a long-life resource in an advanced stage of development, with strategic importance to critical industrial development. We look forward to building upon this partnership with Mesabi Metallics and supporting them in their journey," said Daniel Flannery, President and Managing Partner of Breakwall. "This deal further demonstrates the breadth of our partnership with Vitol, combining credit solutions with global resource marketing acumen, to deliver a multitude of solutions for top tier companies like Mesabi Metallics and world class operators like the Essar Group," added Jamie Brodsky, Co-CEO and Managing Partner of Breakwall.
About Mesabi Metallics Company LLC
Mesabi Metallics Company LLC, an Essar Group company, is constructing a state-of-the-art mine and Direct Reduction (DR) grade iron ore pellet plant to produce premium DR grade pellets on over 16,000 acres in Nashwauk, Minnesota. Once completed, it will be the first new mine and pellet plant in Minnesota in almost 50 years. Mesabi's DR grade iron ore pellets will be strategically positioned to meet the demand of the Electric Arc Furnace market, ensuring supply chain security for DR grade iron pellets in the United States and replacing foreign imported pellets. The endeavor is one of the largest private sector investments in Minnesota. Mesabi Metallics has already invested over $2.2 billion.
About Breakwall Capital LP
Breakwall Capital is a leading energy specialist focused on direct lending capital solutions to middle-market and developing energy companies. As an independent asset manager and employee-owned firm, Breakwall seeks to fill the gap that other financing providers appear reluctant to service. Breakwall is led by Christopher Abbate, Jamie Brodsky, and Daniel Flannery and since 2014, the Breakwall team has built a credit investment franchise that focuses exclusively on energy credit. During its 12-year history, the team has committed approximately $7.5 billion to energy and energy-related companies or projects across more than 70 transactions. Breakwall is headquartered in New York with offices in Texas and Rhode Island. For more information, please visit Breakwall's website at www.breakwallcap.com.
Financing supports U.S. critical mineral security and helps reshore the American steel supply chain
NASHWAUK, Minn., April 1, 2026 /PRNewswire/ -- Mesabi Metallics Company LLC (Mesabi Metallics), backed by the Essar Group, today announced that it has entered into a new $520 million senior secured credit facility with Valor Mining Credit Partners II, L.P. (VMP II), a dedicated mining and critical minerals credit fund managed by Breakwall Capital LP (Breakwall) in partnership with Vitol, as it advances toward commercial operations later this year.
Located on more than 16,000 acres in northern Minnesota, Mesabi Metallics is completing a $2.5 billion world-scale merchant Direct Reduction (DR) grade iron ore mine and pellet plant that will onshore a strategically important segment of the U.S. steel supply chain.
With over 750 construction workers currently onsite, the project represents one of the largest private-sector industrial investments in the state's history. Essar Group has already invested over $2 billion of equity into the project. The project has also received support from the U.S. Export-Import Bank (EXIM), underscoring growing federal recognition of the project's strategic importance to U.S. manufacturing and supply chain security for the American manufacturing, automobile, infrastructure, shipbuilding and defense sectors.
"The partnership with Breakwall is an important milestone for Mesabi Metallics," said Joe Broking, President and CEO of Mesabi Metallics. "We are bringing to market a brand-new American source of the highest quality DR-grade iron ore that will help U.S. steelmakers reduce reliance on imported raw materials and international supply chains. America is already the global leader in the next generation Electric Arc Furnace-based steelmaking — the cleanest and most energy efficient way of making steel. Mesabi Metallics will create hundreds of high-quality jobs in northern Minnesota for several decades to come and will support the reshoring of American industrial dominance."
"Mesabi Metallics is a great example of the type of high-quality company and large-scale mining project we seek to partner on — anchored by a long-life resource in an advanced stage of development, with strategic importance to critical industrial development. We look forward to building upon this partnership with Mesabi Metallics and supporting them in their journey," said Daniel Flannery, President and Managing Partner of Breakwall. "This deal further demonstrates the breadth of our partnership with Vitol, combining credit solutions with global resource marketing acumen, to deliver a multitude of solutions for top tier companies like Mesabi Metallics and world class operators like the Essar Group," added Jamie Brodsky, Co-CEO and Managing Partner of Breakwall.
About Mesabi Metallics Company LLC
Mesabi Metallics Company LLC, an Essar Group company, is constructing a state-of-the-art mine and Direct Reduction (DR) grade iron ore pellet plant to produce premium DR grade pellets on over 16,000 acres in Nashwauk, Minnesota. Once completed, it will be the first new mine and pellet plant in Minnesota in almost 50 years. Mesabi's DR grade iron ore pellets will be strategically positioned to meet the demand of the Electric Arc Furnace market, ensuring supply chain security for DR grade iron pellets in the United States and replacing foreign imported pellets. The endeavor is one of the largest private sector investments in Minnesota. Mesabi Metallics has already invested over $2.2 billion.
About Breakwall Capital LP
Breakwall Capital is a leading energy specialist focused on direct lending capital solutions to middle-market and developing energy companies. As an independent asset manager and employee-owned firm, Breakwall seeks to fill the gap that other financing providers appear reluctant to service. Breakwall is led by Christopher Abbate, Jamie Brodsky, and Daniel Flannery and since 2014, the Breakwall team has built a credit investment franchise that focuses exclusively on energy credit. During its 12-year history, the team has committed approximately $7.5 billion to energy and energy-related companies or projects across more than 70 transactions. Breakwall is headquartered in New York with offices in Texas and Rhode Island. For more information, please visit Breakwall's website at www.breakwallcap.com.
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
Mesabi Metallics Secures $520 Million from Breakwall Capital - Advances towards Q3 2026 start of New American Iron Ore Mine
