Oncobiologics Raises $31M

What does Oncobiologics do?

Oncobiologics, is a private biopharmaceutical company which lays focus on development and commercialization of monoclonal antibody biosimilar therapeutics. The company is advancing its pipeline of 11 biosimilar products, 2 of these are at present in clinical stage development . The biopharmaceutical company operates from a 50,000 square feet state of the art, totally integrated  research and development and manufacturing facility in Cranbury, New Jersey. It is led by a team of biopharmaceutical experts. The biopharmaceutical company employs its BioSymphony biosimilars business model for achieving speedy development and technical excellence for creating medicines that are affordable by the patients globally. It is thought that the aggregate market value for the molecules in Oncobiologics pipeline at its time of patent expiry to be in excess of $100 B.

How much Oncobiologics was funded?

Oncobiologics has raised $31M in Venture round on July 27, 2015 from Cormorant Global Healthcare Master Fund, Perceptive Advisors, Longwood Capital Partners and venBio. Proximare Lifesciences Funs, MIH Fund, OSSB Pharma Fund were other investors who participated in the round.

What is next for Oncobiologics?

Oncobiologics  will use the funding raised for supporting its continued development and expansion of it’s proprietary BioSymphony biosimilar platform and for advancement of the clinical and preclinical programs.

More about Oncobiologics

Oncobiologics was founded in 2011 by Pankaj Mohan.  It has its headquarters in Cranbury, New Jersey. It is a biopharmaceutical company which if focused on developing, manufacturing and commercializing global therapeutically important, high value complex biosimilars which include fusion proteins and monoclonal antibodies. The company is led by a team of leading engineers and scientists from the world’s top biopharmaceutical companies working in the unencumbered, agile environment of  a startup. Its current pipeline of 7 molecules along with an additional 4 planned molecules together represent over $100 B at the time of expire of its patent, in global revenue.