Oncobiologics Announces Randy Thurman as Executive Chairman of the Board of Directors and Lawrence A. Kenyon as Interim

Oncobiologics Announces Randy Thurman

as Executive Chairman of the Board of

Directors and Lawrence A. Kenyon as Interim CEO

CRANBURY, N.J., June 18, 2018 - Oncobiologics,

Inc. (NASDAQ:ONS) today announced that Pankaj Mohan, Ph.D., its Chairman and Chief Executive Officer (CEO), has stepped down as

CEO and Chairman of the board with immediate effect. Dr. Mohan will remain a member of Oncobiologics' board of directors

and will enter into a consulting agreement with the Company to provide advisory services in connection with the development and

initiation of clinical trials for ONS-5010, an innovative monoclonal antibody (mAb) product candidate under development.

Randy Thurman, a current member of Oncobiologics' board

of directors will assume the role of Executive Chairman. Mr. Thurman, who joined the Oncobiologics board of directors in April

2018, is an accomplished industry and board veteran with more than 30 years of leadership experience in the life sciences industry,

including currently as a senior healthcare operating executive with BC Partners and chairman of Zest Dental Solutions Inc., and

previously as President of both Rorer Pharmaceuticals Inc. and Rhone-Polenc Rorer Pharmaceuticals Inc., Executive Chairman of Enzon

Corporation where he led a successful turnaround, CEO of Corning Life Sciences, and Founder, Chairman and CEO of VIASYS Healthcare,

Inc. Additionally, Mr. Thurman has been a member of the board for over 15 public and private companies, completed over 30 acquisitions

and led 5 IPOs and public financings.

Oncobiologics' board of directors appointed Lawrence A.

Kenyon, its Chief Financial Officer (CFO), as interim CEO to continue leading Oncobiologics in its advancement of ONS 5010 and

its new contract development and manufacturing (CDMO) strategy, as well as other product candidates in the pipeline. Mr. Kenyon,

who joined Oncobiologics as CFO and corporate secretary in September 2015, is an experienced industry executive with nearly 20

years of leadership in the life sciences industry, including previous positions as CFO and chief operating officer (COO) of Arno

Therapeutics, Inc., interim president and CEO, CFO and Secretary of Tamir Biotechnology, Inc., Executive Vice President and CFO

of Par Pharmaceutical Companies, Inc., CFO and COO of Alfacell Corporation, and Executive Vice President and chief financial officer

of NeoPharm, Inc. Mr. Kenyon will continue to serve as CFO.

The board has formed a search committee to identify CEO candidates

with demonstrated commercial capabilities and CDMO experience. The committee is composed of Mr. Thurman along with board members

Faisal Sukhtian and Yezan Haddadin, representatives of the Company's largest stockholder, GMS Tenshi Holdings Pte. Limited

Since founding the company and beginning operations in 2011,

Dr. Mohan has worked tirelessly to achieve his vision to make important and meaningful biologic therapeutics more affordable and

available to a broader number of patients. A key part of that vision was building the BioSymphony Platform, a state-of-the

art mAb development and manufacturing process located in a single facility that has resulted in two biosimilar product candidates

successfully completing Phase 1 clinical trials in preparation for Phase 3 studies. The BioSymphony Platform has now been

expanded to also focus on developing and manufacturing innovative proprietary biologic product candidates, as well as the generation

of revenue as the key component of Oncobiologics new CDMO business.

"It has been an exciting experience founding Oncobiologics

and taking the company public," said Dr. Mohan. "The company now has differentiated technology, valuable assets and

a strong management team and board, with an exceptional majority owner in GMS Tenshi. As a significant stockholder myself, I have

every confidence in this team's ability to ensure the company's continued success and look forward to being a part

of the journey as a member of the board."

"Dr. Mohan has guided Oncobiologics through a crucial

stage in its expansion to become a NASDAQ-traded company with a burgeoning clinical pipeline and growing scientific and intellectual

property assets," said Faisal Sukhtian, an Oncobiologics board member and representative of GMS Tenshi. "He has built

a strong management team to move the company toward financial success. We thank Pankaj for his leadership and accomplishments at

Oncobiologics and we look forward to continuing to partner with him as we all work together towards commercial success for our

"I am looking forward to working with the Oncobiologics

board and Dr. Mohan in seeing the company reach its full potential," added Mr. Thurman. "Thanks to his vision,

the company has a pipeline of highly differentiated drug candidates, an approved phase 3 clinical strategy for its lead drug and

is implementing a contract manufacturing plan to leverage its core capabilities even further. The company is backed by a

majority investor, GMS Tenshi Holdings, with an established track record of success backing its portfolio companies. We anticipate

a smooth transition as Larry Kenyon, a respected industry leader, and I have previously developed an excellent working relationship."

Oncobiologics, Inc. and its BioSymphony Platform

Oncobiologics is a clinical-stage biopharmaceutical company focused on identifying, developing, manufacturing and commercializing

complex monoclonal antibody (mAb) therapeutics. Oncobiologics is advancing a pipeline of innovative and biosimilar product candidates,

three of which are currently in, or about to enter, clinical development. By leveraging its proprietary BioSymphony Platform,

Oncobiologics is able to produce high-quality innovative and biosimilar mAb candidates in an efficient and cost-effective manner.

The BioSymphony engine is particularly suitable for developing technically challenging and commercially attractive mAbs to meet

the need for clinically important yet affordable drugs. The BioSymphony Platform is used for both in-house programs as well as

engaging spare capacity to provide external contract development and manufacturing services. Led by a team of biopharmaceutical

experts, Oncobiologics operates from a state-of-the-art fully integrated research, development, and manufacturing facility in Cranbury,

New Jersey. For more information, please visit www.oncobiologics.com.