Oncobiologics has announced it has secured $31 million in funding.

Oncobiologics, based in Cranbury, N.J., is a biopharmaceutical company focused on developing and commercializing monoclonal antibody biosimilar therapeutics.

The investment round was led by new investor Perceptive Advisors. Participating new investors included Cormorant Global Healthcare Master Fund, Longwood Capital Partners and venBio Select Fund. Other investors included Proximare Lifesciences Fund, OSSB Pharma Fund and MIH Fund.

Oncobiologics indicated the financing would go toward supporting continued development and expansion of the company’s proprietary BioSymphony biosimilar platform and advancement of preclinical and clinical programs.