Oncobiologics Secures Financing from Sabby Management, LLC, to Advance BioSymphony™ Platform and Monoclonal Antibody Biosimilars Pipeline
CRANBURY, N.J., Sept. 29, 2015 /PRNewswire/ -- Oncobiologics, Inc. ("Oncobiologics") announced that it closed an additional round of financing with Sabby Management, LLC. This equity financing, along with the prior investment round that was announced in July 2015, generated aggregate gross proceeds of approximately $43 million. Several investors from the initial closing also participated in the extension of the initial round. Net proceeds of the financing will be used to support planned expansion of the company's facility as well as continued development and expansion of the company's proprietary BioSymphony™ Platform and advancement of its preclinical and clinical monoclonal antibody ("mAb") biosimilar programs.
Sabby joins the existing institutional investors supporting Oncobiologics, which include Perceptive Advisors, Cormorant Global Healthcare Master Fund, Longwood Capital Partners and Venbio Select Fund.
Citigroup and Jefferies LLC advised Oncobiologics on the transactions.
About Oncobiologics, Inc. and its BioSymphony™ Platform
Oncobiologics is a clinical-stage biopharmaceutical company focused on identifying, developing, manufacturing and commercializing complex biosimilar therapeutics. Its initial focus is on technically challenging and commercially attractive mAbs in the disease areas of immunology and oncology. Oncobiologics is advancing its pipeline of eight biosimilar products, two of which are currently in clinical development. Led by a team of biopharmaceutical experts, Oncobiologics operates from a state-of-the-art fully integrated research and development, and manufacturing facility in Cranbury, New Jersey. Oncobiologics employs its BioSymphony™ Platform to address the challenges of biosimilar development and commercialization by developing high quality mAb biosimilars in an efficient and cost-effective manner on an accelerated timeline. For more information, please visit www.oncobiologics.com.
| CONTACTS: |
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| Business Development: |
Stephen J. McAndrew, Ph.D. |
| Sr. Vice President, Business Strategy & Development |
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| Oncobiologics, Inc. |
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| Media: |
Marissa Goberdhan |
| Russo Partners, LLC |
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| Investors: |
Robert Flamm, Ph.D. |
| Russo Partners, LLC |
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SOURCE Oncobiologics, Inc.
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