Heat oven to 350 degrees F. Line a 9x5 pan with parchment paper.

Heat 1 tablespoon of butter and 2 tablespoons of olive oil in a skillet over medium-high heat. Add in onions and sprinkle with sugar on top, stir and cook until caramelized, about 5-7 minutes. Stir in bell peppers and cook until tender . Remove from pan and set aside Add in remaining tablespoon of butter and olive oil. Stir Steak-Umms and cook until browned, about 5 minutes. Stir in cream cheese and remove from heat.

Divide biscuits and fillet each one in half. Turn pan on its side so that it sits up vertically. Place one biscuit slice down and layer with Philly cheese steak mixture and cheese. Continue to layer until all components are used and pan is filled. Bake at 375 degrees F until center is cooked, about 40-45 minutes. If top starts to brown too quickly, cover with foil