Strides Arcolab invests in Oncobiologics Inc

Makes strategic investments in US-based biopharmaceutical firm developing a pipeline of biosimilars and nextgen biotherapeutics

Strides Arcolab, the Bangalore-based publicly held pharmaceutical company has made a series of strategic investments in US-based Obcobiologicals Inc, a privately held New Jersey-based biopharmaceutical firm developing a pipeline of biosimilars and next-generation biotherapeutics. Financial terms were not disclosed. Oncobiologics was founded by a team of experts from firms such as Eli Lily, Bristol-Myers Squibb, Amgen, Genentech, Merck and Pfizer.

"The investments by Strides Arcolab represent important milestone for Oncobiologics. Strides is a long-term strategic partner and we look forward to their support and guidance as we continue to execute our business and technical plans," said Oncobiologics founder & chief executive officer Pankaj Mohan.

Strides Arcolab, after selling its specialty injectable business for a good $1.6 billion during last year, has been investing aggresively in the biopharmaceutical segment. Strides earlier had acquired Bangalore-based Inbiopro, which now has been renamed - Stelis Biopharma in which there has been significant investments.

Stelis is aiming to develop and manufacture selected recombitant proteins from the first wave of biosimilars as well as novel biologic therapies targeted against large and under-served treatments markets worldwide.