CRANBURY — State and federal officials will be in Cranbury Friday to help Oncobiologics, a burgeoning biotech company, mark the opening of its research laboratory, where it will work on developing medicines for cancer and disorders of the immune system.
The 10-month-old company received its initial funding through a provision of the health reform legislation signed into law last year by the federal government.
The Cranbury site will also house the company’s corporate offices and its manufacturing operations.
The company has forged its first partnership with the Philadelphia-based Fox Chase Cancer Center to develop a series of novel, next-generation bi-specific antibodies to fight solid tumors. The pair of antibodies are considered more powerful cancer-fighters because of their ability to target and effectively treat tumors.
Oncobiologics currently employs 25 people, but Pankaj Mohan, the company’s founder and chief executive officer, said the number of workers is expected to double by the end of next year.
"The industry partnerships we have already created,’’ Mohan said, "will allow Oncobiologics to be an engine for product development in oncology and immunology."
Among those scheduled to join Mohan at the ceremony are Lt. Gov. Kim Guadagno, BioNJ Inc. President Debbie Hart, U.S. Sen. Robert Menendez, and the state director of the U.S. Small Business Administration, Alfred J. Titone.
