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Senator Menendez, Lt. Governor Guadagno Unveil New Biotech Firm Oncobiologics
Date:10/17/2011

CRANBURY, N.J., Oct. 17, 2011 /PRNewswire/ -- Sen. Robert Menendez (D-NJ), Lt. Gov. Kim Guadagno and regional leaders of the biopharmaceutical industry Friday unveiled the state-of-the-art home of Oncobiologics, a novel biotech firm enabled, in part, by the U.S. Affordable Care Act.

(Photo: http://photos.prnewswire.com/prnh/20111017/PH87451 )

"We are committed to advancing innovative and improved biotherapeutics to treat serious diseases, including cancer and immune disorders, by leveraging proprietary technologies and expert science and engineering," said Oncobiologics Founder & CEO Pankaj Mohan, Ph.D. "Our leadership team represents some of the most respected professionals from the pharmaceutical industry who have joined Oncobiologics because of our collective commitment to improve the lives of patients around the world. The industry partnerships we have already created with organizations like the Fox Chase Cancer Center and two agreements totaling $80 million that we have just finalized this week will allow Oncobiologics to be an engine for product development in oncology and immunology."

The first of the two agreements is with Parilis Biopharmaceuticals, an early-stage biotech company, and involves worldwide licensing for an undisclosed biotherapeutic product. The second is with a U.S. 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.

Oncobiologics and the Fox Chase Cancer Center, the renown Philadelphia cancer research and treatment center, have created a strategic partnership to co-develop a novel, next generation bi-specific antibody cancer platform with enhanced therapeutic capabilities against solid tumors. The jointly engineered platform is designed to handle
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SOURCE Oncobiologics, Inc.
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