iBio Provides Information for Listening to the Virtual Annual Stockholder Meeting

Rhea-AI Summary

iBio, a developer of biopharmaceuticals, announced that its 2021 Annual Shareholders meeting is set for December 22, 2021, at 9:00 AM EST. The meeting will address two critical proposals: a reverse stock split and an increase in authorized shares. Currently, 64% and 67% of shareholders have voted in favor, but additional votes are necessary for approval. iBio encourages shareholders who have not yet voted to participate. The company is recognized for its sustainable, plant-based FastPharming Manufacturing System, aimed at developing treatments for various diseases.

Positive

• 64% and 67% of shareholders have shown support for the reverse stock split and change in authorized shares respectively.
• The company enhances shareholder engagement by encouraging participation in the voting process.

Negative

• More shareholder votes are needed to ratify the proposals, indicating potential investor hesitance.

BRYAN, Texas, Dec. 21, 2021 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), a developer of next-generation biopharmaceuticals and pioneer of the sustainable, plant-based FastPharming Manufacturing System^®, provides the following link to listen virtually to the 2021 Annual Shareholders meeting: www.virtualshareholdermeeting.com/IBIO2021. The meeting will be held at 9:00 AM EST on December 22, 2021.

iBio had partially adjourned the 2021 Annual Stockholder meeting related to Proposal 4 (Reverse Stock Split) and Proposal 5 (Change in Authorized Shares) to allow more shareholders to vote. Previously 64% and 67% of shareholders had voted in favor of these proposals, but more shareholder votes are needed to ratify the proposals.

If you have already voted your shares “FOR” Proposals 4 and 5, you do not need to vote again, and we thank you for your support. If you did not vote at all, abstained from voting for, or voted against with respect to the proposals, we kindly ask you to vote, or to reconsider your vote.

For additional information on the Proposals, please see our Shareholder Vote FAQ. 

About iBio, Inc. 

iBio is a developer of next-generation biopharmaceuticals and a pioneer in sustainable, plant-based biologics manufacturing. Its FastPharming System^® combines vertical farming, automated hydroponics, and novel glycosylation technologies to rapidly deliver high-quality monoclonal antibodies, antigens, and other proteins. iBio is developing proprietary biopharmaceuticals for the treatment of cancers, as well as fibrotic and infectious diseases. The Company’s wholly-owned subsidiary, iBio CDMO LLC, provides FastPharming Contract Development and Manufacturing Services along with Glycaneering  Development Services™ for advanced recombinant protein design. For more information, visit www.ibioinc.com.

Contact: 

Stephen Kilmer 
iBio, Inc. 
Investor Relations 
(646) 274-3580 
skilmer@ibioinc.com  

FAQ

What proposals are being voted on at iBio's 2021 Annual Shareholders meeting?

The proposals include a reverse stock split and a change in authorized shares.

When is the iBio 2021 Annual Shareholders meeting?

The meeting is scheduled for December 22, 2021, at 9:00 AM EST.

How were the initial votes for iBio's proposals?

64% voted in favor of the reverse stock split, and 67% supported the change in authorized shares.

What does iBio's FastPharming Manufacturing System focus on?

It focuses on sustainable, plant-based manufacturing for biopharmaceutical development.