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Featured Company News - Oncobiologics Announces Partnership with GMS Tenshi Holdings; Set to Accelerate the Commercialization of Biosimilar Candidates

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LONDON, UK / ACCESSWIRE / September 12, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Oncobiologics, Inc. (NASDAQ: ONS), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=ONS. The Company announced on September 8, 2017 a strategic partnership with GMS Tenshi Holdings Pte. Ltd. ("GMS Tenshi"), providing for the private placement of up to $25 million of Oncobiologics' Series A Convertible Preferred Stock ("Series A"), and warrants to acquire up to an additional 16.75 million shares of its common stock with an aggregate purchase price of about $15 million. The Company has also entered into an agreement with an existing investor and holder of senior secured notes to exchange $1.5 million of its senior secured notes for non-voting Series B Convertible Preferred Stock and forgive the unpaid interest on such exchanged notes. For immediate access to our complimentary reports, including today's coverage, register for free now at:


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The Announcement

Oncobiologics (NASDAQ: ONS) views this announcement as a step to align with a strategic financial partner with a global strategy to accelerate the commercialization of its biosimilar candidates and to enhance its partnering and licensing capabilities. Along with the purchase agreement, the two Companies also entered into a Joint Development and License Agreement, facilitating the license to GMS Tenshi of rights to ONS-3010 and ONS-1045 in emerging markets, excluding China, India, and Mexico. The License also supersedes and replaces a previous strategic license agreement entered into on July 25, 2017 with GMS Tenshi, which initially licensed only ONS-1045 and resulted in payments totaling $2.5 million and an up-front payment and milestone fees to Oncobiologics.

GMS Tenshi is a Singapore based joint-venture between Tenshi Life Sciences Ltd. and GMS Holdings, a private investment Company headquartered in Amman, Jordan, owning a portfolio of business across different segments. GMS Holdings is a founder and major shareholder in MS Pharma, which is a leading branded generics Company in the Middle-East and the North Africa region. GMS Holdings was also a co-founder and majority shareholder in Alvogen, Inc., a specialty generic pharmaceutical Company, which it sold in 2014.

Company Growth Prospects

Oncobiologics (NASDAQ: ONS) plans to leverage GMS Tenshi's know-how to rapidly deliver critically needed biosimilars to emerging markets across the globe. The Company believes that it now has a partner with the necessary financial and global commercial pharmaceutical expertise that, when combined with the unique BioSymphony Platform, would allow the Company to realize its vision of bringing affordable biologic drugs to patients in need around the world.

On April 17, 2017, the Company announced that it had amended its Note and Warrant Purchase Agreement (NWPA), dated December 22, 2016, and issued additional senior secured promissory notes that bear interest at a rate of 5% per year, and mature on the 1-year anniversary of the NWPA. Under the amended NWPA, the Company also issued an additional $3.5 million aggregate principal amount of Notes and an additional 1.17 million of Warrants. Oncobiologics announced that it would use the proceeds from the sale of the additional Notes and Warrants for working capital requirements and to support ongoing development work as it pursues strategic opportunities.

Last Close Stock Review

On Monday, September 11, 2017, the stock closed the trading session at $1.80, dropping 10.89% from its previous closing price of $2.02. A total volume of 1.46 million shares have exchanged hands, which was higher than the 3-month average volume of 162.39 thousand shares. Oncobiologics' stock price skyrocketed 80.00% in the last one month and 17.65% in the past three months. The stock currently has a market cap of $19.78 million.

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SOURCE: Pro-Trader Daily