Oncobiologics, Inc. Announces Two New Agreements Worth Close to $80 Million
CRANBURY, N.J., Oct. 13, 2011 /PRNewswire/ -- Oncobiologics announced today that it has signed two major agreements. The first is with Parilis Biopharmaceuticals, an early-stage biotech company, and involves worldwide licensing for an undisclosed biotherapeutic product. The second is with a US based large pharmaceutical company to conduct research focused on solving issues related to downstream processing of monoclonal antibodies. The identity of the client firm was not disclosed due to confidentiality terms in the agreement. The combined value of the agreements to Oncobiologics totals close to $80 million.
Dennis O'Donnell, CEO of Parilis Biopharmaceuticals said, "We are very excited about this agreement with Oncobiologics. This is a major step for Parilis in selecting a biotherapeutic candidate with very high potential. Oncobiologics' capabilities will enhance our speed to market and provide a much greater chance for success. Oncobiologics gives us access to a team of senior scientists with decades of large pharma experience. We have every confidence that they have the knowledge and scientific rigor needed to help ensure our mutual success."
Oncobiologics Vice President of Business Development, Jeremy Caudill commented, "These programs represent a significant milestone for Oncobiologics. They are a validation of our dual strategies; as a fully integrated Biopharmaceutical company, as well as providing world-class proof-of-concept services to customers and partners."
Caudill added, "These agreements also recognize the strength and depth of the team assembled here at Oncobiologics. For a major pharmaceutical organization to entrust an important technical program of this scope reflects the confidence they have in our capabilities. Likewise, Dennis O'Donnell brings a track-record of successes and has chosen Oncobiologics largely on the strength of our team."
About Oncobiologics, Inc.
Headquartered in Cranbury, N.J., Oncobiologics is utilizing a proprietary platform to develop a pipeline of next generation biotherapeutics focused on clinically validated targets in the therapeutic areas of oncology, immuno-oncology, and immunology. Oncobiologics provides world-class, turnkey proof-of-concept services that can take a partner's pre-clinical candidates from chemistry, manufacture and control development all the way through Phase II clinical trials. For more information, please visit www.oncobiologics.com or call 609-619-3990.
SOURCE Oncobiologics, Inc.