iBio Selected to Produce ATB Therapeutics’ Bioengineered Antibody-Toxin Fusion Proteins

Rhea-AI Summary

iBio, Inc. (IBIO) announced its first Statement of Work under a Master Services Agreement with ATB Therapeutics to produce bioengineered antibody-toxin fusion proteins known as atbodies™. This collaboration aims to aid in developing treatments for cancers. Both companies expressed optimism regarding the partnership's potential to speed up the manufacturing process for clinical trials. iBio leverages its FastPharming® System to enhance production capabilities, reinforcing its position as a leader in plant-based biologics.

Positive

• iBio has secured its first Statement of Work with ATB Therapeutics, indicating a profitable partnership.
• The collaboration focuses on producing cancer-targeting atbodies™, highlighting iBio's potential role in oncology.
• iBio's FastPharming® System is set to expedite the manufacturing process for clinical trials.

Negative

• None.

BRYAN, Texas, Dec. 01, 2020 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), a biotech innovator and biologics contract development and manufacturing organization (“CDMO”), today announced that it has entered into its first Statement of Work (“SoW”) under a Master Services Agreement with Belgium-based ATB Therapeutics (“atbtherapeutics”) to produce its bioengineered antibody-toxin fusion proteins using iBio’s FastPharming^® System.

The fusion proteins, called atbodies™, are being designed for the treatment of cancers. iBio will develop a manufacturing process and assays for select atbodies per the SoW.

“We are pleased to be chosen as the process development and manufacturing partner for atbtherapeutics, whose platform technology offers a unique approach for hard-to-treat hematological malignancies and solid tumors,” said Tom Isett, Chairman & CEO of iBio. “We are looking forward to helping atbtherapeutics rapidly build a scalable manufacturing process so that its atbody drug candidates may quickly reach the clinic and begin to realize their potential in oncology.”

Bertrand Magy, CEO of atbtherapeutics, commented: “We are thrilled to be working with iBio, a high-quality, customer-focused CDMO whose proven expertise should be highly valuable as we prepare for our first safety trials. With iBio’s support, we believe we will be able to rapidly progress toward the clinic with our lead product candidates for the treatment of cancer.”

About atbtherapeutics

atbtherapeutics is a Belgian pioneering biopharmaceutical company building an oncology pipeline of antibody-toxin-bioengineered ‘atbodies.’ atbody novel biologic is differentiated by a unique composition and novel mechanism of action, together aiming to extend the therapeutic window of current targeted therapies. The atbody is a novel therapeutic that can only be achieved using atbtherapeutics’ proprietary plant-based atbiofarm technology. atbtherapeutics is advancing its first program in hematological malignancies and is developing a second program for solid tumors in its discovery portfolio. For more information, visit www.atbtherapeutics.com.

About iBio, Inc.

iBio is a global leader in plant-based biologics manufacturing. Its FastPharming^® System combines vertical farming, automated hydroponics, and glycan engineering technologies to rapidly deliver high-quality monoclonal antibodies, vaccines, bioinks and other proteins. The Company’s subsidiary, iBio CDMO LLC, provides FastPharming Contract Development and Manufacturing Services. iBio’s Glycaneering Development Service™ includes an array of new glycosylation technologies for engineering high-performance recombinant proteins. Additionally, iBio is developing proprietary products, which include IBIO-100 for the treatment of fibrotic diseases, and vaccines for infectious diseases. For more information, visit www.ibioinc.com.

FORWARD-LOOKING STATEMENTS
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding helping ATB Therapeutics rapidly build a scalable manufacturing process so that its atbody drug candidates may quickly reach the clinic and begin to realize their potential in oncology and the Company’s proven expertise being highly valuable as ATB Therapeutics prepares for its first safety trials. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to help ATB Therapeutics rapidly build a scalable manufacturing process using iBio’s FastPharming^® System, the Company’s ability to obtain regulatory approvals for commercialization of its product candidates, including its COVID-19 vaccines, or to comply with ongoing regulatory requirements, regulatory limitations relating to its ability to promote or commercialize its product candidates for specific indications, acceptance of its product candidates in the marketplace and the successful development, marketing or sale of products, its ability to maintain its license agreements, the continued maintenance and growth of its intellectual property portfolio, its ability to establish and maintain collaborations, its ability to obtain or maintain the capital or grants necessary to fund its research and development activities, competition, its ability to retain its key employees or maintain its NYSE American listing, and the other risk factors discussed in the Company’s most recent Annual Report on Form 10-K and the Company’s subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

Contacts:

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

 

FAQ

What is iBio's recent partnership with ATB Therapeutics about?

iBio has entered a Statement of Work with ATB Therapeutics to produce antibody-toxin fusion proteins for cancer treatment.

How does iBio plan to support ATB Therapeutics?

iBio will develop a manufacturing process and assays for ATB Therapeutics' bioengineered drug candidates.

What technology does iBio use for manufacturing?

iBio utilizes its FastPharming® System for efficient plant-based biologics manufacturing.

What is the significance of the agreement for iBio's future?

The partnership may enhance iBio's reputation and revenue by positioning it in the oncology sector.