Strides Arcolab has now made a strategic investment in Oncobiologics Inc, which is a privately held New Jersey-based biopharmaceutical firm developing a pipeline of biosimilars and next generation bio-therapeutics. The financial details have not been disclosed.
According to the Bengaluru-based Strides, the investment is part of its efforts to fund promising bio-pharma companies with high quality scientific management and proprietary approaches to developments that confer significant time and cost advantages.
“The investments by Strides Arcolab represent important milestones for Oncobiologics. The company 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 Dr Pankaj Mohan, Founder & CEO, Oncobiologics.
“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,” stated Arun Kumar, Founder and Group CEO, Strides Arcolab.
Strides Arcolab develops and manufactures a wide range of IP-led niche pharmaceutical products across its five manufacturing facilities and has a presence over 75 countries. The company has also made significant investments in its own bio-pharma venture, Stelis Biopharma, which will develop and manufacture selected recombinant proteins of biosimilars and novel biologic therapies targeted against large and under-served treatment markets worldwide.
In the case of Oncobiologics, the privately held biopharmaceutical company is developing a pipeline of biosimilars and next generation bio-therapeutics. The company was formed by a team of leading industry experts from global pharma majors like Eli Lilly, Bristol-Myers Squibb, Amgen, Genentech, Merck and Pfizer. It operates from an advanced 40,000 sq. ft. fully integrated R&D and manufacturing facility in Cranbury, New Jersey.