iBio Expands Executive Leadership Team with Appointment of Kristi Sarno as Senior Vice President of Business Development
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 (NYSEA:IBIO), un innovatore nel settore delle immunoterapie anticorpali basato sull'intelligenza artificiale, ha nominato Kristi Sarno come Vicepresidente Senior dello Sviluppo Commerciale. Con oltre 25 anni di esperienza nell'industria delle scienze della vita, Sarno guiderà alleanze strategiche per la piattaforma di apprendimento automatico di iBio per la scoperta di anticorpi e il pipeline di obiettivi cardiometabolici. Il suo ruolo include l'istituzione della strategia aziendale e la supervisione delle attività di sviluppo commerciale.
Le esperienze precedenti di Sarno includono posizioni chiave presso Pfenex Inc., Latham Biopharm Group, Crucell e, più recentemente, come VP dello Sviluppo Commerciale e della Strategia Aziendale presso Homology Medicines. Presso Homology, ha guidato le discussioni sulle alleanze e ha avuto un ruolo importante nei processi di conclusione degli accordi che hanno portato oltre 130 milioni di dollari all'azienda.
Come parte della sua nomina, iBio ha conferito a Sarno opzioni per acquistare 15.000 azioni delle sue azioni ordinarie come premio di incentivazione, con un prezzo di esercizio di 1,81 dollari per azione e un termine di dieci anni.
iBio (NYSEA:IBIO), un innovador impulsado por IA en el campo de las inmunoterapias con anticuerpos de precisión, ha nombrado a Kristi Sarno como Vicepresidenta Senior de Desarrollo de Negocios. Con más de 25 años de experiencia en la industria de las ciencias de la vida, Sarno liderará alianzas estratégicas para la plataforma de aprendizaje automático de iBio para el descubrimiento de anticuerpos y su pipeline de objetivos cardiometabólicos. Su papel incluye establecer la estrategia corporativa y supervisar las actividades de desarrollo de negocios.
La experiencia previa de Sarno incluye posiciones clave en Pfenex Inc., Latham Biopharm Group, Crucell, y más recientemente como VP de Desarrollo de Negocios y Estrategia Corporativa en Homology Medicines. En Homology, lideró discusiones de asociaciones y desempeñó un papel importante en los procesos de cierre de acuerdos que aportaron más de $130 millones a la empresa.
Como parte de su nombramiento, iBio ha concedido a Sarno opciones para comprar 15,000 acciones de sus acciones comunes como un premio de inducción, con un precio de ejercicio de $1.81 por acción y un término de diez años.
iBio (NYSEA:IBIO)는 인공지능 기반의 정밀 항체 면역 치료제 혁신 기업으로서 Kristi Sarno를 비즈니스 개발 수석 부사장으로 임명했습니다. 생명 과학 산업에서 25년 이상의 경험을 가진 Sarno는 iBio의 항체 발견을 위한 머신러닝 플랫폼과 심혈관 대사 목표 파이프라인을 위한 전략적 제휴를 이끌 것입니다. 그녀의 역할은 기업 전략을 수립하고 비즈니스 개발 활동을 감독하는 것을 포함합니다.
Sarno의 이전 경험에는 Pfenex Inc., Latham Biopharm Group, Crucell에서의 주요 직책과 가장 최근에는 Homology Medicines의 비즈니스 개발 및 기업 전략 부사장 역할이 포함됩니다. Homology에서 그녀는 파트너십 논의를 이끌고 1억 3천만 달러 이상의 자금을 회사로 유치하는 데 중요한 역할을 했습니다.
임명 일환으로, iBio는 Sarno에게 유도 인센티브로 15,000주 미국 보통주 매입 옵션을 부여했으며, 주당 행사가는 1.81달러이고, 10년 동안 유효합니다.
iBio (NYSEA:IBIO), un innovateur propulsé par l'intelligence artificielle dans le domaine des immunothérapies par anticorps de précision, a nommé Kristi Sarno au poste de Vice-Présidente Senior du Développement Commercial. Forte de plus de 25 ans d'expérience dans l'industrie des sciences de la vie, Sarno dirigera les alliances stratégiques pour la plateforme d'apprentissage automatique d'iBio dédiée à la découverte d'anticorps et à son pipeline d'objectifs cardiométaboliques. Son rôle consiste à établir la stratégie d'entreprise et à superviser les activités de développement commercial.
Avant cela, Sarno a occupé des postes clés chez Pfenex Inc., Latham Biopharm Group, Crucell, et plus récemment, en tant que VP du Développement Commercial et de la Stratégie d'Entreprise chez Homology Medicines. Chez Homology, elle a dirigé les discussions de partenariat et a joué un rôle important dans les processus de conclusion d'accords qui ont rapporté plus de 130 millions de dollars à l'entreprise.
Dans le cadre de sa nomination, iBio a accordé à Sarno des options d'achat de 15 000 actions de ses actions ordinaires comme prix d'incitation, avec un prix d'exercice de 1,81 dollar par action et une durée de dix ans.
iBio (NYSEA:IBIO), ein KI-gestützter Innovator für präzise Antikörper-Immuntherapien, hat Kristi Sarno zur Senior Vice President für Geschäftsentwicklung ernannt. Mit über 25 Jahren Erfahrung in der Biowissenschaftsindustrie wird Sarno strategische Alliancen für die Machine-Learning-Plattform von iBio zur Antikörperentdeckung und der Pipeline von kardiometabolischen Zielen leiten. Ihre Aufgabe umfasst die Festlegung der Unternehmensstrategie und die Überwachung der Geschäftsentwicklungsaktivitäten.
Vor ihrer Ernennung war Sarno in Schlüsselpositionen bei Pfenex Inc., Latham Biopharm Group, Crucell und zuletzt als VP für Geschäftsentwicklung und Unternehmensstrategie bei Homology Medicines tätig. Bei Homology führte sie Partnerschaftsgespräche und spielte eine wichtige Rolle in den Vertragsverhandlungen, die dem Unternehmen über 130 Millionen Dollar einbrachten.
Im Rahmen ihrer Ernennung hat iBio Sarno Optionen zum Kauf von 15.000 Aktien ihrer Stammaktien als Anreizangebot gewährt, mit einem Ausübungspreis von 1,81 US-Dollar pro Aktie und einer Laufzeit von zehn Jahren.
- Appointment of experienced executive Kristi Sarno as SVP of Business Development
- Sarno's track record includes bringing over $130M to her previous company through deal-making
- Potential for expanded pipeline into obesity and metabolic therapeutics
- Plans to establish collaborations with pharmaceutical companies for AI platform leveraging
- None.
Life sciences industry veteran to lead strategic alliances for iBio’s machine learning platform for antibody discovery and pipeline of cardiometabolic targets
SAN DIEGO, Aug. 12, 2024 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSEA:IBIO), an AI-driven innovator of precision antibody immunotherapies, announced today the appointment of Kristi Sarno as senior vice president, business development. Ms. Sarno brings more than 25 years of business development and strategic experience in the life sciences industry to iBio and will play a key role on the leadership team in establishing the company’s corporate strategy and leading business development activities, including overseeing search and evaluation and transaction execution.
Before joining iBio, Ms. Sarno held key positions in business development, strategic alliance, program management and research at leading biotech companies including Pfenex Inc. (acquired by Ligand Pharmaceuticals), Latham Biopharm Group (acquired by Sia Partners), and Crucell (acquired by Johnson & Johnson). Most recently she served as the vice president of business development and corporate strategy at Homology Medicines, where she led partnering discussions, played an instrumental role in complex deal-making processes bringing over
“Kristi’s extensive experience in building successful partnerships will be invaluable to iBio as we look to expand our pipeline into obesity and metabolic therapeutics and plan to establish collaborations with pharmaceutical companies seeking to leverage our AI platform for discovering and developing antibodies against challenging drug targets,” said Martin Brenner, Ph.D., DVM, CEO and Chief Scientific Officer. “We’re excited to welcome Kristi to our team and eagerly anticipate her contributions.”
iBio also today announced the company has granted Ms. Sarno options to purchase 15,000 shares of its common stock as inducement awards outside the company’s 2023 Omnibus Incentive Plan. The grant was approved by the Compensation Committee and was made as an inducement material to the employee entering into employment. The grant was made in reliance on the employment inducement exception to shareholder approval provided under the NYSE American Company Guide, Section 711(a), which requires public announcement of inducement awards.
The option award has an exercise price of
About iBio, Inc.
iBio is an AI-driven innovator that develops next-generation biopharmaceuticals using computational biology and 3D-modeling of subdominant and conformational epitopes, prospectively enabling the discovery of new antibody treatments for hard-to-target cancers, and other diseases. iBio’s mission is to decrease drug failures, shorten drug development timelines, and open up new frontiers against the most promising targets. For more information, visit www.ibioinc.com.
Forward-Looking Statements
Any statements contained in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements.” These statements include statements regarding the Company continuing to grow its pipeline and secure collaborations with pharma companies who need assistance discovering and developing hard-to-drug targets with our machine learning and AI platform and the contributions to be made by Ms. Sarno. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the uncertainties related to the ability of the Company to grow its pipeline and secure collaborations with pharma companies and the contributions to be made by Ms. Sarno, and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended June 30, 2023, and the Company’s subsequent filings with the SEC, including subsequent periodic reports on Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statements contained in this press release speak only as of the date hereof and, except as required by federal securities laws, iBio, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Contacts:
iBio, Inc.
Investor Relations
ir@ibioinc.com
Susan Thomas
iBio, Inc.
Media Relations
susan.thomas@ibioinc.com
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