Oncobiologics Enters into First CDMO Contract

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CRANBURY, N.J., June 13, 2018 (GLOBE NEWSWIRE) -- Oncobiologics, Inc. (NASDAQ:ONS) today announced that it has entered into a Master Services Agreement (MSA) with Sonnet BioTherapeutics, Inc., a privately held development stage biopharmaceutical company, and has officially launched its BioSymphony™ Platform based contract development and manufacturing (CDMO) business.  The terms of the MSA were not disclosed, but the MSA engages Oncobiologics to provide CDMO services for up to four drug product candidates over the next three years.

“We are excited to sign our first CDMO contract to leverage our BioSymphony™ Platform capacity with development stage partners.  Our Biosymphony™ Platform capabilities have generated a great deal of interest and we look forward to leveraging our recently announced participation in the Bio2Source program to add additional partners for our CDMO services.  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," commented Pankaj Mohan, Ph.D., Chairman and CEO of Oncobiologics.

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Globe Newswire: 20:04 GMT Wednesday 13th June 2018

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