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BANGALORE, India and CRANBURY, N.J., July 16, 2014 /PRNewswire/ -- Strides Arcolab and Oncobiologics, Inc., today announced that Strides has made a series of strategic investments in Oncobiologics, Inc., a privately held New Jersey biopharmaceutical firm developing a pipeline of biosimilars and next generation biotherapeutics.
The investment is part of Strides' strategy to fund promising biopharma companies with high quality scientific management and proprietary approaches to developments that confer significant time and cost advantages.
Financial terms were not disclosed.
"The investments by Strides Arcolab represent important milestones for Oncobiologics. Strides Arcolab is a long-term strategic partner that provides both financial strength and a proven track-record of successful business ventures. We look forward to their support and guidance as we continue to execute Oncobiologics' business and technical plans," said Oncobiologics Founder & CEO, Pankaj Mohan, Ph.D.
Commenting on the development, Arun Kumar, Founder and Group CEO of Strides Arcolab said, "Strides Arcolab is proud to announce this strategic partnership with Oncobiologics. After significant due diligence, it is evident that their success to-date in meeting technical milestones is an indicator of the solid team and business model they have constructed. We look forward to sharing in Oncobiologics' future successes."
About Strides Arcolab
Strides Arcolab, listed on the Bombay Stock Exchange Limited (532531) and National Stock Exchange of India Limited (STAR), is a global pharmaceutical Company headquartered in Bangalore, India that develops and manufactures a wide range of IP-led niche pharmaceutical products. Strides has made significant investments in its own Biopharma venture, Stelis Biopharma, which will develop and manufacture selected recombinant proteins from the first wave of biosmilars as well as novel biologic therapies targeted against large and under-served treatment markets worldwide.
The Company has 5 manufacturing facilities presence in more than 75 countries in developed and emerging markets. Additional information is available at the Company's website at www.stridesarco.com.
About Oncobiologics, Inc.
About Oncobiologics, Inc. Oncobiologics is a privately held biopharmaceutical company developing a pipeline of biosimilars and next generation biotherapeutics. 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 40,000 sq. ft. fully integrated R&D and Manufacturing facility in Cranbury, NJ. For more information, please visit www.oncobiologics.com
For further information, please contact:
Strides Arcolab Limited
Mr. Joe Thomas
Chief Corporate Development Officer
Stephen J. McAndrew, Ph.D.
+91 80 6784 0119
Senior Vice President, Business Strategy & Development
Vikesh Kumar +91 80 6784 0827
Kannan. N: +91 98450 54745
Director of Marketing & Communications
Kaveri Mandanna: +91 90089 59697
Mahesh Nair: +91 98803 76648
SOURCE Oncobiologics, Inc.