Oncobiologics and inVentiv Health Form Strategic Partnership around Biosimilars
CRANBURY, N.J., Aug. 6, 2013 /PRNewswire/ -- Oncobiologics, Inc. and inVentiv Health today announced a broad strategic partnership around clinical development for all assets in Oncobiologic's pipeline. The scope of the partnership is global and will initially focus on biosimilar assets, and could be expanded to include innovative molecules. Through the partnership, inVentiv Health will provide leadership and execution for clinical studies, as well as the corresponding bioanalytical support for those trials. As the assets are commercialized, the partnership will be broadened to include inVentiv's significant commercialization capabilities in select countries. This will position Oncobiologics attractively in seeking future commercial partners.
The current biosimilar assets include generic versions of Humira®, Rituxan®, Avastin®, Herceptin® and Erbitux®. These biologics are the most popular therapies in the world for their respective cancer and immune-disease indications, representing annual global revenue of more than $40 billion.
"After an exhaustive global review of potential partners, we selected the broad-scale inVentiv platform as an important differentiator for our program as this partnership spans both clinical and bioanalytical development as well as commercialization of our biosimilar assets. inVentiv is able to take the scope of these agreements to a much broader level by working across the full development life cycle of each biosimilar and innovator product while preparing for a successful market launch. With their willingness to share in the risk/reward of our development programs, our firms are a perfect fit, both technically and culturally," said Oncobiologics Founder & CEO, Pankaj Mohan, Ph.D.
Ray Hill, President, inVentiv Health Clinical added, "We are thrilled to partner with Oncobiologics and to be a part of their highly capable biosimilars consortium. With their recent global partnering successes, we look forward to helping Oncobiologics bring their biosimilar assets through clinical trials and into the marketplace. By joining their fully-integrated CMC capabilities with inVentiv's broad clinical and commercial expertise, we are creating a venture that is truly greater than the sum of its parts."
About Oncobiologics, Inc.
Oncobiologics is a privately-held biopharmaceutical company that has developed a pipeline of biosimilars and is developing next generation biotherapeutics focused on clinically validated targets in the therapeutic areas of oncology, immuno-oncology, and immunology. Formed by a team of leading industry experts from firms such as Eli Lilly, Bristol-Myers Squibb, Amgen, Genentech, Merck and Pfizer, Oncobiologics operates from a state-of-the-art 30,000 sq. ft. R&D facility in Cranbury, NJ. For more information, please visit www.oncobiologics.com
About inVentiv Health Clinical
inVentiv Health Clinical is a leading provider of global drug development services to pharmaceutical, biotechnology, generic drug, and medical device companies, offering therapeutically specialized capabilities for Phase I-IV clinical development, bioanalytical services, and strategic resourcing from a single clinical professional to an entire functional team. With 7,000 passionate employees operating in more than 70 countries, inVentiv Health Clinical works to accelerate high quality drug development programs of all sizes around the world. http://www.inventivhealthclinical.com
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SOURCE Oncobiologics, Inc.