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

multiple targets, representing a pipeline of promising cancer treatments.

"Companies like Oncobiologics hold so much promise for our health care system and our economy in general, but oftentimes they're not able to survive in an economic environment where private capital is simply unavailable," said U.S. Senator Robert Menendez. "This grant, made possible thanks to the Affordable Care Act and the Therapeutic Discovery Project Credit we were able to successfully include in the legislation, is about investing in the future. It's about boosting the economy, creating new jobs, and shining a light on the best and brightest from some of our most distinguished top-tier global pharmaceutical and biotech companies. When I look at companies like Oncobiologics, I see the best of America and the best of New Jersey. I see the promise for another American century within our reach, starting right here at home."

Oncobiologics was founded in January 2011 and expects to employ nearly 200 people within two years. The company received initial funding through the Qualifying Therapeutic Discovery Project, Senator Menendez's initiative that was part of the health insurance reform legislation President Barack Obama signed into law in March. The company has also received support through the Small Business Administration and the New Jersey Small Business Development Center.

"The opening of Oncobiologics' new facility in Cranbury not only brings 200 jobs to our state, but reinforces New Jersey's status as a world leader in the life science industry," said Lt. Governor Kim Guadagno. "The groundbreaking work being done here will save lives and prolong life. We are honored to have Oncobiologics in New Jersey."

Attendees at the Oncobiologics ribbon cutting event toured the 25,000-square-foot research and development facility, which includes state-of-the art development laboratory space that emphasizes collaboration and innovation.

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SOURCE Oncobiologics, Inc.
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