Oncobiologics has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). No pricing details were given in this filing; however, in the previous filing the offering was valued up to $115 million. The company has applied to list its shares on the Nasdaq Global Market under the symbol ONS.
The underwriters for the offering are Jefferies, Barclays and Cantor Fitzgerald.
This clinical-stage biopharmaceutical company is focused on identifying, developing, manufacturing and commercializing complex biosimilar therapeutics. Its current focus is on technically challenging and commercially attractive monoclonal antibodies (mAbs) in the disease areas of immunology and oncology. A mAb is a type of protein that is produced by a single clone of cells or cell line and made to bind to a specific substance in the body.
The strategy is to cost-effectively develop these biosimilars on an accelerated timeline, which is fundamental to success and, Oncobiologics believes, positions it to be a leading biosimilar company. The company has leveraged its team’s biopharmaceutical expertise to establish fully integrated in-house development and manufacturing capabilities, which it refers to as the BioSymphony Platform.
The company believes the BioSymphony Platform addresses the numerous complex technical and regulatory challenges in developing and commercializing mAb biosimilars and was designed to provide significant pricing flexibility. Since inception, Oncobiologics has advanced two product candidates into clinical trials: ONS-3010, a Phase 3-ready biosimilar to adalimumab (Humira), and ONS-1045, a Phase 3-ready biosimilar to bevacizumab (Avastin).
Additionally, the company has identified multiple other biosimilar product candidates, including six that are in active preclinical development, one of which is expected to enter clinical trials in 2016.
The company intends to use the net proceeds from this offering to further develop its pipeline and fund clinical trials. The remainder will be used for working capital and general corporate purposes.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
