CRANBURY, N.J., June 21, 2011 /PRNewswire/ -- The founders of Oncobiologics, Inc. today announced that the firm, a specialist in biologics proof-of-concept services, will launch itself to the biopharmaceutical industry at the 2011 BIO International Convention. The convention is being held June 27-30 at the Walter E. Washington Convention Center in Washington, DC (booth 1950).
Oncobiologics was founded by a group of leading scientists and engineers from top-tier global pharmaceutical and biotech companies, including Genentech, Eli Lilly, Bristol-Myers Squibb, Bayer, Merck, Johnson & Johnson, Schering-Plough and Medarex. The company is commercializing a new one-stop proof-of-concept "engine" that will enable biologic drug developers to economically and efficiently develop more of their pre-clinical drug candidates. Oncobiologics has raised start-up funding through U.S. Government grants, bank loans, and investments by listed companies and private equity investors.
Oncobiologics founder and CEO Dr. Pankaj Mohan commented, "Oncobiologics was created to help unleash the tremendous wealth of pre-clinical assets generated by the U.S. biopharmaceutical industry. Historically, roughly 40% of those assets suffer significant delays due to capacity and financial constraints. Oncobiologics aims to deliver the world class technical capabilities found at top-tier companies, with a cost structure that more closely resembles low-cost country outsourcing, thus easing this critical bottleneck."
Adds Mohan, "Our team sees a great business opportunity here, but we are equally committed to opening up the flow of promising drug candidates to the patient populations that so desperately need them."
The Oncobiologics business model features a core set of expert services that are supplemented by strategic partnerships with external industry specialists. Internal services include cell and molecular biology; and process, analytical and formulation development. Manufacturing services include stability studies; non-clinical manufacturing and QC testing, with clinical manufacturing commencing in 2012. Partner offerings include pre-clinical animal studies, immunogenicity studies, clinical study design and execution and regulatory affairs. Oncobiologics offers comprehensive turnkey proof-of-concept program outsourcing, or discrete projects to complement a client's internal development efforts.
Igor Astsaturov MD, PhD, medical oncologist and researcher at Fox Chase Cancer Center in Philadelphia commented, "I am thrilled to be an advisor to the exceptional team assembled at Oncobiologics. Their unique model offers researchers a development option that combines small company speed and agility, large company technical resources for developing cancer medicines and other therapeutics."
Oncobiologics was awarded funding from the U.S. government to support the development of a novel cancer platform drug in partnership with a major cancer research center. This program will also serve to showcase Oncobiologic's capabilities to other prospective partners.
Oncobiologics operates from a newly outfitted state-of-the-art 25,000 square foot multi-host facility in Cranbury, New Jersey, in close proximity to the hub of biopharmaceutical companies located in the mid-Atlantic through Northeast states. The company is planning a grand opening event with government and industry dignitaries in August 2011.
SOURCE Oncobiologics, Inc.