Oncobiologics, Inc., a Cranbury, New Jersey-based clinical-stage biopharmaceutical company, closed an additional round of equity financing.
Sabby Management, LLC, joined existing institutional investors Perceptive Advisors, Cormorant Global Healthcare Master Fund, Longwood Capital Partners and Venbio Select Fund.
The company, which has now raised approximately $43m, intends to use the funds for the expansion of its facility, continued development of the proprietary BioSymphony™ Platform and advancement of its preclinical and clinical monoclonal antibody (“mAb”) biosimilar programs.
Oncobiologics focuses on identifying, developing, manufacturing and commercializing complex biosimilar therapeutics. Its initial focus is on technically challenging and commercially attractive mAbs in the disease areas of immunology and oncology.