Oncobiologics Closes on Final Portion of $15 Million Senior Secured Note and Warrant Offering
01 Juin 2017 - 3:00PM
Oncobiologics, Inc. (NASDAQ:ONS), a clinical-stage
biopharmaceutical company focused on identifying, developing,
manufacturing and commercializing complex monoclonal antibody (mAb)
biosimilar therapeutics, today announced that it has completed the
sale of notes and warrants under its amended Note and Warrant
Purchase Agreement dated December 22, 2016, as amended April 13,
2017 (the “NWPA”) and issued additional senior secured promissory
notes that bear interest at a rate of 5.0% per year and mature on
the one-year anniversary of the NWPA as amended (the “Notes”) and
5-year warrants to purchase shares of its common stock at an
exercise price of $3.00 per share (the “Warrants”) in connection
therewith.
On May 31, 2017 Oncobiologics issued the
remaining $1.5 million aggregate principal amount of Notes and
499,500 Warrants to an existing investor. Oncobiologics will
use the proceeds from the sale of the additional Notes and Warrants
for working capital purposes as it continues to pursue strategic
opportunities.
This news release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful, prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Oncobiologics, Inc. and its
BioSymphony™ PlatformOncobiologics is a clinical-stage
biopharmaceutical company 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. Oncobiologics is advancing its pipeline of
eight biosimilar products, two of which are currently in clinical
development. Led by a team of biopharmaceutical experts,
Oncobiologics operates from an in-house state-of-the-art fully
integrated research and development, and manufacturing facility in
Cranbury, New Jersey. Oncobiologics employs its BioSymphony™
Platform to address the challenges of biosimilar development and
commercialization by developing high quality mAb biosimilars in an
efficient and cost-effective manner on an accelerated timeline. For
more information, please visit www.oncobiologics.com.
CONTACTS:
Oncobiologics:
Lawrence A. Kenyon
Chief Financial Officer
LawrenceKenyon@oncobiologics.com
Media & Investors:
Alex Fudukidis
Russo Partners, LLC
alex.fudukidis@russopartnersllc.com
ONCOBIOLOGICS, INC. (NASDAQ:ONS)
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