Strides Arcolab and Oncobiologics announced that Strides has made a series of strategic investments in Oncobiologics, a privately held New Jersey biopharmaceutical firm.

The investment is a part of Strides's strategy to fund promising biopharma companies with high quality scientific management and proprietary approaches to developments that confer significant time and cost advantages.

Shares of the company gained Rs 9.35, or 1.46%, to settle at Rs 651.05 at the BSE (Wednesday).