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August 22, 2011

Oncobiologics, Inc. and Fox Chase Cancer Center Announce Co-Development of a Novel Cancer Therapy Platform

Oncobiologics, Inc. and Fox Chase Cancer Center announced today an agreement to co-develop a novel, next generation bi-specific antibody cancer platform with enhanced therapeutic capabilities against solid tumors. The jointly engineered platform is designed to handle multiple targets, representing a pipeline of promising cancer treatments. This research program is now underway, with preclinical studies expected in Q1-2012 for the first molecule using this platform.  Financial terms were not disclosed.

The platform integrates intellectual property originated by both Oncobiologics and Fox Chase.  Oncobiologics will play a key role in the discovery program that will be carried out at Fox Chase, and will engage its proof-of-concept engine to develop therapeutic products and move them through clinical trials. The two organizations expect to partner with established pharmaceutical/biopharmaceutical companies for commercialization of drug candidates resulting from the platform, and are actively seeking co-development partners.

“Fox Chase is excited about taking this important step in jointly developing a unique bi-specific antibody platform with Oncobiologics,” says Kurt A. Schwinghammer, Ph.D., Vice President of Research and Development Alliances at Fox Chase Cancer Center.  “We have been extremely hopeful about the promise of this therapeutic approach.  ”  

Matt Robinson, Ph.D., the principal investigator at Fox Chase and John Cini, Ph.D., Vice President at Oncobiologics, commented, “We believe this platform can improve cancer therapies by improving tumor delivery, enhancing pharmacokinetics, and providing the opportunity for synergistic bi-specific antibody delivery.”

“This is an important milestone in demonstrating our mission to increase the flow of biologic drug candidates to the patients who need them,” said Pankaj Mohan, Ph.D., Founder & CEO of Oncobiologics.  “Strategic partnerships with Fox Chase and other centers of excellence in cancer research are a critical element of our strategy to deliver a holistic approach for treating cancer.”

About Fox Chase Cancer Center:
Fox Chase Cancer Center is one of the leading cancer research and treatment centers in the United States. Founded in 1904 in Philadelphia as one of the nation's first cancer hospitals, Fox Chase was also among the first institutions to be designated a National Cancer Institute Comprehensive Cancer Center. Fox Chase researchers have won the highest awards in their fields, including two Nobel Prizes. Fox Chase physicians are also routinely recognized in national rankings, and the Center's nursing program has received the Magnet status for excellence three consecutive times. Today, Fox Chase conducts a broad array of nationally competitive basic, translational, and clinical research, with special programs in cancer prevention, detection, survivorship, and community outreach. For more information, call 1-888-FOX-CHASE or 1-888-369-2427.