iBio Strengthens Board with Appointment of Two New Independent Directors
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 (NYSEA:IBIO) ha nominato due nuovi direttori indipendenti nel suo Consiglio: David Arkowitz e António Parada. Arkowitz, attualmente CFO presso Alkeus Pharmaceuticals, porta con sé una vasta esperienza finanziaria e operativa, mentre Parada, Fondatore e CEO di FairJourney Biologics, contribuisce con la sua expertise nella scoperta di farmaci a base di anticorpi. Queste nomine sono in linea con la visione di iBio di diventare un'azienda di nuova generazione nella scoperta e nello sviluppo di anticorpi, focalizzandosi sulle malattie cardiometaboliche e sull'oncologia. Il Generale Tom Hill lascerà il consiglio dopo sedici anni di servizio.
iBio (NYSEA:IBIO) ha nombrado a dos nuevos directores independientes para su Consejo: David Arkowitz y António Parada. Arkowitz, actual CFO de Alkeus Pharmaceuticals, aporta una amplia experiencia financiera y operativa, mientras que Parada, fundador y CEO de FairJourney Biologics, contribuye con su experiencia en la descubrimiento de medicamentos basados en anticuerpos. Las nombramientos están alineados con la visión de iBio de convertirse en una empresa de descubrimiento y desarrollo de anticuerpos de nueva generación, centrada en enfermedades cardiometabólicas y oncología. El General Tom Hill dejará el consejo después de dieciséis años de servicio.
iBio (NYSEA:IBIO)는 이사회에 두 명의 새로운 독립 이사를 임명했습니다: David Arkowitz와 António Parada. Arkowitz는 현재 Alkeus Pharmaceuticals의 CFO로 활동하고 있으며, 폭넓은 재무 및 운영 경험을 자랑합니다. Parada는 FairJourney Biologics의 창립자이자 CEO로서 항체 약물 발견에 대한 전문 지식을 제공합니다. 이 임명은 심혈관 대사 질환 및 종양학에 초점을 맞춘 차세대 항체 발견 및 개발 회사가 되고자 하는 iBio의 비전을 반영합니다. Tom Hill 장군은 16년의 근무를 마치고 이사회를 떠날 예정입니다.
iBio (NYSEA:IBIO) a nommé deux nouveaux administrateurs indépendants au sein de son Conseil : David Arkowitz et António Parada. Arkowitz, actuellement CFO d'Alkeus Pharmaceuticals, apporte une vaste expérience financière et opérationnelle, tandis que Parada, Fondateur et CEO de FairJourney Biologics, contribue par son expertise dans la découverte de médicaments à base d'anticorps. Ces nominations s'inscrivent dans la vision d'iBio de devenir une entreprise de découverte et de développement d'anticorps de nouvelle génération, axée sur les maladies cardiométaboliques et l'oncologie. Le Général Tom Hill quittera le conseil après seize ans de service.
iBio (NYSEA:IBIO) hat zwei neue unabhängige Direktoren in seinen Vorstand berufen: David Arkowitz und António Parada. Arkowitz, derzeit CFO bei Alkeus Pharmaceuticals, bringt umfangreiche Erfahrung in den Bereichen Finanzen und Betrieb mit, während Parada, Gründer und CEO von FairJourney Biologics, Expertise in der Entdeckung von Antikörpermedikamenten einbringt. Die Ernennungen stehen im Einklang mit der Vision von iBio, ein Unternehmen der nächsten Generation für die Entdeckung und Entwicklung von Antikörpern zu werden, das sich auf kardiometabolische Krankheiten und Onkologie konzentriert. General Tom Hill wird den Vorstand nach sechzehn Jahren Dienstzeit verlassen.
- Strategic board strengthening with expertise in finance and antibody discovery
- Addition of experienced industry veterans with successful track records
- Enhanced potential for expanding investor base through new financial expertise
- Loss of long-term board member with 16 years of experience
SAN DIEGO, Nov. 25, 2024 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSEA:IBIO), an AI-driven innovator of precision antibody immunotherapies, announced today the appointment of biotech industry veterans David Arkowitz and António Parada to its Board of Directors adding key experience in finance, leadership and antibody discovery.
“These appointments expand and strengthen our board to align with iBio’s vision of becoming a next-generation antibody discovery and development company with a robust clinical pipeline of therapeutic antibodies for cardiometabolic diseases and oncology. As a seasoned CFO, David brings extensive financial experience and industry relationships that will benefit iBio as we expand our investor base. Antonio’s deep knowledge of antibody discovery and development will help shape our strategy as we work to move from preclinical development into the clinic,” said iBio CEO and Chief Scientific Officer Martin Brenner, Ph.D., DVM. “We are honored to welcome these high-caliber executives to our board and look forward to working with them. I’d also like to thank General Tom Hill, whose leadership and guidance has been invaluable to iBio over the last sixteen years.”
David Arkowitz brings extensive financial and operational experience to the Board. He is currently Chief Financial Officer at Alkeus Pharmaceuticals, a private company developing therapies for serious diseases of the eye with high unmet need. Previously, he served as CFO and head of business development of Seres Therapeutics, Inc., CFO of Flexion Therapeutics, Inc., which was acquired by Pacira Biosciences, and Chief Operating Officer and CFO of Visterra, Inc., which was acquired by Otsuka Pharmaceutical Co., where he led finance, business development, corporate planning, and other functions. Mr. Arkowitz currently serves on the board of directors of Kineta, in addition to holding past board member and audit committee chair roles at a number of biotech and life sciences companies.
Antonio Parada is an accomplished leader in antibody drug discovery with a successful track record in fundraising and management. He is the Founder and CEO of FairJourney Biologics, a privately held and leading antibody discovery contract research organization. Prior to FairJourney, Mr. Parada was the general manager of Instituto de Biologia Molecular e Celular (IBMC) in Portugal, manager of the Clinical Trial Unit of IPO Porto – Cancer Hospital in Portugal, and site manager of Ablynx’s “Centre of Excellence in Phage Display,” a subsidiary of Sanofi S.A. (Portugal).
Mr. Parada commented, “I understand the challenges with developing next-generation antibodies and am impressed with the potential of iBio’s technology to overcome these challenges. I look forward to my work on the board and collaborating with the iBio team.” Mr. Arkowitz added, “I’m thrilled to be joining iBio’s board and am excited by the prospects of its drug discovery platform to identify undruggable targets. The combination of machine learning and advanced biological techniques that iBio has built into its drug discovery platform has the potential to address some of the greatest challenges in antibody discovery.”
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
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 driving the Company’s growth and advancing its pipeline of therapeutic antibody candidates for cardiometabolic diseases and oncology, becoming a next-generation antibody discovery and development company with a robust clinical pipeline of therapeutic antibodies for cardiometabolic diseases and oncology, the expected contribution of Mr. Arkowitz and Mr. Parada, moving from preclinical development into the clinic, the potential of the Company’s technology to overcome the challenges with developing next-generation antibodies, using the Company’s drug discovery platform to identify undruggable targets and the combination of machine learning and advanced biological techniques into the Company’s drug discovery platform having the potential to overcome some of the greatest challenges in antibody discovery. 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 execute its growth strategy and advance its pipeline of therapeutic antibody candidates for cardiometabolic diseases and oncology; the ability of Mr. Arkowitz and Mr. Parada contribute to the Company as expected, the Company’s ability to obtain regulatory approvals for commercialization of its product candidates, or to comply with ongoing regulatory requirements; regulatory limitations relating to the Company’s ability to promote or commercialize its product candidates for specific indications; acceptance of the Company’s product candidates in the marketplace and the successful development, marketing or sale of products; and whether the Company will incur unforeseen expenses or liabilities or other market factors; and the other factors discussed in the Company’s filings with the SEC including the Company’s Annual Report on Form 10-K for the year ended June 30, 2024 and the Company’s subsequent filings with the SEC on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes 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.
Contact:
iBio, Inc.
Investor Relations
ir@ibioinc.com
Susan Thomas
iBio, Inc.
Media Relations
susan.thomas@ibioinc.com
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