New Jersey cancer biosimilar developer Oncobiologics is aggressively pursuing cash: It raised $43 million earlier this year, and is looking for $50 million more, according to a regulatory filing.
Oncobiologics has a number of monoclonal antibody therapeutics in development, and is in the midst of clinical trials to get its Avastin biosimilar approved. It’s readying itself for Phase 3 trials for its Avastin-like biologic. The patents on Avastin are set to expire in 2019 – and there are a number of contenders in the race to develop a contender for bevacizumab.
Oncobiologics has another mAb in the clinic – a biosimilar for Humira. This should enter Phase 3 trials next year. Notably, AbbVie is slated to lose some patent protections of this immunosuppressant by the close of 2016.
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Oncobiologics has six more biosimilars in preclinical study, the company says.