Deal Watch: Oncobiologics Enters into First CDMO Contract

Earlier this month, Oncobiologics, Inc. announced that it entered into a Master Service Agreement with Sonnet BioTherapeutics, Inc. that engages Oncobiologics to provide Contract Development and Manufacturing (CDMO) services for up to four drug product candidates over the next three years.  According to the press release, this is the first CDMO agreement for Oncobiologics, and it utilizes its Oncobiologics’ newly launched BioSymphony Platform for developing monoclonal antibodies.  Oncobiologics’ Chairman and CEO Pankaj Mohan, Ph.D. stated: “We believe this CDMO business, and the associated revenue, integrated with our ongoing efforts to develop our own proprietary innovative and biosimilar product candidates, will help us to reduce costs and improve efficiency to drive stockholder value.”  Oncobiologics is a clinical-stage biopharmaceutical company, focusing on monoclonal antibodies, with three biosimilar candidates in its pipeline (adalimumab, bevacizumab and trastuzumab) that are either in or about to enter clinical testing.  Sonnet is a biotech company that focuses on anticancer agents.

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