Strides Arcolab, a Bangalore-based pharmaceutical company with a focus on development and manufacture of IP-led niche generics and bio-pharmaceuticals, announced that it has made a series of strategic investments in Oncobiologics Inc.
Oncobiologics Inc is a privately held New Jersey-based biopharmaceutical firm, developing a pipeline of biosimilars and next generation biotherapeutics.
The investment is part of Strides’ strategy to fund promising biopharma companies with scientific management and proprietary approaches to developments that ensure time and cost advantages.
However, the financial terms remain unknown.
“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 Pankaj Mohan, founder & CEO, Oncobiologics.
Arun Kumar, founder and group CEO, Strides Arcolab, said, “We are 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.”
Strides Arcolab develops and manufactures IP-led niche pharmaceutical products. It has made significant investments in its own Biopharma venture, Stelis Biopharma, which will develop and manufacture select recombinant proteins from the first wave of biosmilars as well as novel biologic therapies targeted at under-served markets. It has five manufacturing facilities and is present in more than 75 countries.
Oncobiologics is a privately held biopharmaceutical firm developing a pipeline of biosimilars and next generation biotherapeutics. Formed by industry experts from firms such as Eli Lilly, Bristol-Myers Squibb, Amgen, Genentech, Merck and Pfizer, it has a R&D and manufacturing facility in Cranbury, NJ.
(Edited by Joby Puthuparampil Johnson)