CRANBURY, N.J., June 26, 2014 /PRNewswire/ -- Oncobiologics, Inc. and Laboratorios Liomont S.A. de C.V. announced today a strategic partnership for the development, manufacture and commercialization of biosimilar monoclonal antibody products for the Mexican market. The scope of the agreement includes exclusive commercialization in Mexico by Liomont of two biosimilars developed by Oncobiologics.
Under the agreement, Liomont, a leading Mexico City-based pharmaceutical company, will provide Oncobiologics with upfront licensing and development milestone payments, as well as royalties once the medicines are commercialized. Oncobiologics will oversee global clinical trials and will provide commercial supply manufacturing for launch in the Mexican market.
"This partnership is an important step toward introducing high-quality biotherapeutics to Mexico. Oncobiologics represents an ideal partner for Liomont's entry into the biologics market. Together, we believe we can offer Mexican patients affordable therapeutics for serious diseases," said Alfredo Rimoch, CEO of Liomont.
"Liomont is a leader in small-molecule pharmaceuticals development, production and commercialization in Mexico, and we are excited to partner with them to bring important biologics to Mexico. We are making excellent progress with the development of our biosimilar products and look forward to launching clinical programs very soon," commented Oncobiologics Founder & CEO, Pankaj Mohan, Ph.D.
Financial terms were not disclosed.
About Oncobiologics, Inc.
Oncobiologics is a privately-held biopharmaceutical company developing a pipeline of biosimilars and next generation biotherapeutics focused on clinically validated targets in the therapeutic areas of oncology, immuno-oncology, and immunology. Formed by a team of leading industry experts from firms such as Eli Lilly, Bristol-Myers Squibb, Amgen, Genentech, Merck and Pfizer, Oncobiologics operates from a state-of-the-art 35,000 sq. ft. R&D and manufacturing facility in Cranbury, NJ. For more information, please visit www.oncobiologics.com
About Laboratorios Liomont S.A. de C.V.
Laboratorios Liomont is a privately owned Mexican company established in 1938 that develops, manufactures, and commercializes Rx and OTC products. Liomont is one of the 5 largest Mexican pharmaceutical companies having achieved solid sustained growth for the past 20 years. For more information about Liomont please visit www.liomont.com
SOURCE Oncobiologics, Inc.