CRANBURY, N.J., July 30, 2012 /PRNewswire/ -- Oncobiologics, Inc. announced today a collaboration agreement with XOMA Corporation to develop novel biotherapeutics based on engineering single-chain variable fragments (scFv) into a bi-specific antibody scaffold. Through the partnership, Oncobiologics will utilize XOMA's ADAPT™ fully human antibody technology platform as a key component of its drug discovery program. Oncobiologics has selected clinically validated targets that will be used in the development of its bi-specific antibody platform targeting three therapeutic areas: Oncology, Immuno-Oncology and Immunology.
Under the agreement, Oncobiologics will gain access to XOMA's highly diverse library of scFv antibodies and associated patent estate, and will utilize XOMA's know-how and proven software tools as it advances its own candidates for treating cancer and immune diseases. Financial terms were not disclosed.
Pankaj Mohan, Ph.D., Founder & CEO of Oncobiologics, commented, "We are very excited to partner with XOMA to advance our discovery pipeline. Their proven technology represents an important asset to support our strategy to deliver improved efficacy and safety in our drug candidates. Access to this technology is a key differentiator for the bi-specific mAb candidates in our pipeline and we believe this creates significant value for our programs."
Joseph Bertino, M.D., Chief Scientific Officer of the Cancer Institute of New Jersey and Head of Oncobiologics' Scientific Advisory Board, added, "Fully human single chain antibodies in a bi-specific format offer promising opportunities for a new class of biotherapeutics designed to enhance efficacy and safety. Bringing together these capabilities with Oncobiologics' platform creates an exciting pathway for enhancing oncology treatment."
About Oncobiologics, Inc.
Headquartered in Cranbury, N.J., Oncobiologics is a biopharmaceutical company developing a pipeline of next generation biotherapeutics focused on clinically validated targets in the therapeutic areas of oncology, immuno-oncology, and immunology. The company's proprietary TriDENT™ platform leverages fully human single-chain, bi-specific antibodies with HSA binding designed for overall significantly enhanced efficacy, safety, and pharmacokinetics with targeted delivery. For more information, please visit www.oncobiologics.com or call 609-619-3990.
BUSINESS & TECHNICAL INQUIRIES
Stephen J. McAndrew, Ph.D.
609-619-3990, ext. 216
This press release was issued through eReleases® Press Release Distribution. For more information, visit http://www.ereleases.com.
SOURCE Oncobiologics, Inc.