Oncobiologics, Inc., a Cranbury, NJ-based biopharmaceutical company focused on developing and commercializing monoclonal antibody biosimilar therapeutics, closed a $31m financing.
The round was led by new investor Perceptive Advisors with participation from new investors Cormorant Global Healthcare Master Fund, Longwood Capital Partners, and venBio Select Fund as well as Proximare Lifesciences Fund, OSSB Pharma Fund and MIH Fund.
The company intends to use the funds for the continued development and expansion of its proprietary BioSymphony™ biosimilar platform and advancement of its preclinical and clinical programs.
Led by Pankaj Mohan, Ph.D., founder and chief executive officer, Oncobiologics is advancing a pipeline of 11 biosimilar products, two of which are currently in clinical development. Led by a team of
biopharmaceutical experts, Oncobiologics operates from a 50,000 sq. ft. fully-integrated R&D and manufacturing facility in Cranbury, NJ.