This round of financing was led by a new investor, Perceptive Advisors, with other new investors taking part including Cormorant Global Healthcare Master Fund, Longwood Capital Partners and venBio Select Fund. Other investors in this round included Proximare Lifesciences Fund, OSSB Pharma Fund and MIH Fund.
“We look for life science technologies, products and a team with scientific competence that has the potential to generate significant returns to our fund,” Joseph Edelman, CEO and portfolio manager for Perceptive Advisors, said in a statement. “Oncobiologics has an advanced and deepening biosimilar pipeline emerging from a fully integrated technology platform that will differentiate the company in a growing and potentially competitive biosimilar market. We look forward to contributing to the company’s growth in this important segment of the biotechnology industry.”
Citigroup and Jefferies LLC advised Oncobiologics on the transaction.