Oncobiologics Inc. Appoints Scott Canute, Former President of Eli Lilly and Company and Genzyme Corporation, to its Board of Directors

CRANBURY, N.J., Oct. 12, 2011 /PRNewswire/ -- Oncobiologics, Inc. announced today that is has named Scott Canute, a former President at both Eli Lilly and Genzyme, to its Board of Directors.

Over the course of his 30-year career, Mr. Canute played a vital role in leading Eli Lilly's global manufacturing operations. Most recently, he spent more than a year as President of Global Manufacturing and Corporate Operations for Genzyme, where he led a major turnaround effort.

"Scott Canute has been a distinguished leader at major biopharmaceutical organizations throughout his career," said Oncobiologics Founder & CEO Pankaj Mohan, Ph.D. "I have known and admired Scott as my mentor for many years, and I am honored that he will share his experience and strategic insight to our efforts at Oncobiologics. We look forward to guidance from Scott as a member of our board."

"Oncobiologics has assembled an impressive team of industry leaders, and already has developed a promising pipeline," said Mr. Canute. "Although the company is a start-up, it has the horsepower of a much more established organization. I look forward to helping Pankaj steer the company through this exciting stage."

Mr. Canute earned a Master of Business Administration from the Harvard Business School. He also earned a B.S. in Chemical Engineering at the University of Michigan, where he graduated with Highest Honors.

About Oncobiologics, Inc.

Headquartered in Cranbury, N.J., Oncobiologics is utilizing a proprietary platform to develop a pipeline of next generation biotherapeutics focused on clinically validated targets in the therapeutic areas of oncology, immuno-oncology, and immunology. Oncobiologics provides world-class, turnkey proof-of-concept services that can take a partner's pre-clinical candidates from chemistry, manufacture and control development through Phase II clinical trials. For more information, please visit www.oncobiologics.com or call 609-619-3990.

SOURCE Oncobiologics, Inc.