iBio, Inc. - IBIO STOCK NEWS

iBio (NYSEA: IBIO) and AstralBio have announced the development of a novel antibody that inhibits Activin E, marking a significant breakthrough in treating cardiometabolic disorders and obesity. Using iBio's patented Machine-Learning Antibody Engine, the companies overcame the challenge of targeting Activin E, which is traditionally difficult to produce outside the human body.

The developed antibody demonstrates sub-nanomolar kinetics and complete blockade of Activin E-mediated signaling in human adipocytes. Research indicates that individuals with protective loss-of-function mutation in the INHBE gene show improved cardiometabolic profiles, including reduced abdominal fat and lower risk of type 2 diabetes.

Under the collaboration terms, AstralBio has licensed iBio's Drug Discovery Platform for four cardiometabolic disease targets, while iBio maintains options on three targets from AstralBio. This achievement follows their recent developments in myostatin and Activin A targeting programs.

iBio has expanded its cardiometabolic and obesity program by in-licensing an anti-myostatin antibody (IBIO-600) from AstralBio for $750,000 in common stock, with potential milestone payments up to $28 million. The antibody was discovered using iBio's proprietary technology and is designed for subcutaneous administration with extended half-life potential.

The company also launched a new bispecific antibody program targeting myostatin/activin A for obesity and cardiometabolic disorders treatment. In preclinical studies, IBIO-600 showed potent myostatin inhibition in human muscle cells and demonstrated 10-fold higher FcRn receptor binding affinity than normal IgG, suggesting potential for reduced dosing frequency. First data from non-human primate studies are expected in early 2025, with clinical investigations planned for 2026.

iBio (NYSEA:IBIO) has appointed two new independent directors to its Board: David Arkowitz and António Parada. Arkowitz, currently CFO at Alkeus Pharmaceuticals, brings extensive financial and operational experience, while Parada, Founder and CEO of FairJourney Biologics, contributes expertise in antibody drug discovery. The appointments align with iBio's vision of becoming a next-generation antibody discovery and development company focused on cardiometabolic diseases and oncology. General Tom Hill will be departing the board after sixteen years of service.

iBio reported fiscal Q1 2025 results with key developments in its myostatin program. The company has begun dosing in non-human primate studies, collaborating with AstralBio for cardiometabolic disease and obesity treatments. Financial highlights include: no revenue reported, R&D and G&A expenses decreased 20% to $4.1 million, net loss of $4.0 million ($0.46 per share), and cash position of $11.3 million. The company appointed Kristi Sarno as SVP of Business Development and expects early study readouts in early 2025.

iBio and AstralBio have provided an update on their joint myostatin program for cardiometabolic disease and obesity. The companies have identified a lead molecule with potential for extended half-life and subcutaneous dosing. This molecule is designed to treat muscle wasting and obesity, with plans to advance into non-cGMP in vivo studies in rodents and non-human primates. Potential early readouts from NHP studies are expected in early 2025.

The collaboration aims to develop a best-in-class myostatin inhibitor focusing on high potency and extended half-life. iBio has the option to license three cardiometabolic targets from AstralBio and aims to file an IND application by the end of 2025 if it exercises the option for the myostatin program.

iBio, Inc. (NYSEA:IBIO) reported its fiscal year 2024 financial results and provided a corporate update. The company, an AI-driven innovator of precision antibody immunotherapies, highlighted significant progress in the cardiometabolic and obesity space through a collaboration with AstralBio. iBio strengthened its financial position by eliminating debt and closing a fully subscribed financing.

Key developments include:

• Launch of ShieldTx™, a patent-pending antibody masking technology
• Sale of early-stage PD-1 asset to Otsuka Pharmaceutical for $1MM upfront with potential $52.5MM in downstream payments
• Advancement of Trop2 x CD3 molecule to clinical candidate selection stage
• Collaboration with AstralBio in the cardiometabolic and obesity space
• Completion of a 1-for-20 reverse stock split
• Raised approximately $24MM through public and private offerings
• Sale of manufacturing facility for $8.5MM, eliminating $13.2MM in secured debt

Financial results show revenues of $0.2 million, a 100% increase over fiscal 2023. The company reported a net loss of $24.9 million, a $40.1 million improvement from the previous year.

iBio (NYSEA:IBIO), an AI-driven innovator of precision antibody immunotherapies, has announced its participation in two upcoming investor conferences. CEO and Chief Scientific Officer Martin Brenner will deliver a virtual presentation at the H.C. Wainwright 26th Annual Global Investment Conference in New York City, September 9-11, 2024. The presentation will be available on-demand from September 9 and for 30 days after.

Additionally, iBio will attend the 2024 Cantor Global Healthcare Conference in New York City, September 17-19, 2024. CFO Felipe Duran will also be present at both events. Investors interested in one-on-one meetings with Dr. Brenner or Mr. Duran at either conference can schedule by emailing ir@ibioinc.com.

iBio (NYSEA:IBIO), an AI-driven innovator of precision antibody immunotherapies, has appointed Kristi Sarno as Senior Vice President of Business Development. With over 25 years of experience in the life sciences industry, Sarno will lead strategic alliances for iBio's machine learning platform for antibody discovery and pipeline of cardiometabolic targets. Her role includes establishing corporate strategy and overseeing business development activities.

Sarno's previous experience includes key positions at Pfenex Inc., Latham Biopharm Group, Crucell, and most recently as VP of Business Development and Corporate Strategy at Homology Medicines. At Homology, she led partnering discussions and played a important role in deal-making processes that brought over $130M to the company.

As part of her appointment, iBio has granted Sarno options to purchase 15,000 shares of its common stock as an inducement award, with an exercise price of $1.81 per share and a ten-year term.

iBio has closed the sale of its manufacturing facility in Bryan, Texas, to the Board of Regents of the Texas A&M University System for $8.5 million. The transaction eliminates approximately $13.2 million in secured debt from iBio's balance sheet, a move achieved through the issuance of $4.5 million in pre-funded warrants to Woodforest National Bank and utilizing $915K in restricted cash. This sale marks iBio's completed transition from a CDMO to an AI-driven biologics company, now headquartered in San Diego. Key recent developments include a $15 million private investment, $4.3 million from exercised warrants, and new partnerships that bolster their machine-learning drug discovery capabilities.