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Oncobiologics signs two agreements worth $80 million

Thursday, October 13, 2011 12:50 PM

Oncobiologics has signed two major agreements. The first is with Parilis Biopharmaceuticals, an early-stage biotech company, and involves worldwide licensing for an undisclosed biotherapeutic product. The second is with a US based pharmaceutical company to conduct research focused on solving issues related to downstream processing of monoclonal antibodies. The identity of the client firm was not disclosed due to confidentiality terms in the agreement. The combined value of the agreements to Oncobiologics totals close to $80 million.

Dennis O'Donnell, CEO of Parilis Biopharmaceuticals said, "We are very excited about this agreement with Oncobiologics. This is a major step for Parilis in selecting a biotherapeutic candidate with very high potential. Oncobiologics' capabilities will enhance our speed to market and provide a much greater chance for success. Oncobiologics gives us access to a team of senior scientists with decades of large pharma experience. We have every confidence that they have the knowledge and scientific rigor needed to help ensure our mutual success."

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