Welcome to our dedicated page for iBio news (Ticker: IBIO), a resource for investors and traders seeking the latest updates and insights on iBio stock.
iBio, Inc. (symbol: IBIO) is a specialized contract development and manufacturing organization (CDMO) that facilitates the journey from early product selection to market launch. Situated within the healthcare sector, iBio is renowned for its plant-based protein expression technologies, which are pivotal in developing vaccines, therapeutic proteins, and biopharmaceutical products.
The company operates through two primary segments: Biopharmaceuticals and Bioprocessing. iBio's Biopharmaceuticals segment focuses on the development and commercialization of product candidates aimed at addressing critical health issues such as fibrotic diseases, cancers, and infectious diseases. The Bioprocessing segment, meanwhile, involves comprehensive manufacturing and regulatory support services offered through iBio CDMO.
iBio's technology platform and state-of-the-art facilities are designed to expedite development processes, providing significant time and cost advantages over traditional approaches. The company boasts a team of skilled protein scientists, microbiologists, manufacturing experts, and regulatory professionals committed to delivering seamless scale-up from preclinical to commercial production.
Recent achievements include advancements in biotherapeutics and diagnostic products, showcasing iBio's capability to innovate and respond to global health challenges effectively. The company also maintains strategic partnerships that bolster its research and development efforts, ensuring consistent progress in the healthcare landscape.
With its focus on rapid manufacturing support and regulatory compliance, iBio stands out as a reliable partner for clients seeking efficient pathways to clinical and commercial success.
iBio, Inc. (NYSEA:IBIO) has announced an underwritten public offering of its common stock, with an additional 30-day option for underwriters to purchase up to 15% more shares. Cantor Fitzgerald & Co. is the sole book-running manager for the offering. The company aims to use the net proceeds to accelerate the development of its biotherapeutic and vaccine candidates, in-license biopharmaceutical assets in various therapeutic areas, and cover general corporate needs. The offering is being made under a previously effective shelf registration statement with the SEC.
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.
iBio Announces Patent Issuance for Antifibrotic Development
iBio has secured U.S. Patent No. 10,844,392, enhancing its FastPharming® System. This patent is crucial for the production of endostatin-derived peptides, supporting the development of IBIO-100 for fibrotic disorders like systemic scleroderma and idiopathic pulmonary fibrosis. The patent includes 19 claims and expires in June 2036. iBio plans to initiate IND-enabling studies for IBIO-100 in 2021, expanding its therapeutic offerings and intellectual property portfolio in the biotechnology field.
iBio, a biotech innovator, announced its financial results for Q1 FY2021, reporting revenues of approximately $0.4 million, a 280% increase from the same period last year. The company’s net loss was about $7.5 million, or $0.05 per share. R&D expenses rose to $1.8 million, primarily due to increased laboratory supplies. iBio's revenue backlog stands at $2.4 million, and cash and investments totaled $83.5 million. The company highlights its partnerships and ongoing development of COVID-19 therapeutics as part of its growth strategy.
On November 12, 2020, iBio (NYSE: IBIO) announced its participation in Alliance Global Partners' Virtual Healthcare Symposium on November 19, 2020. The company will engage in one-on-one meetings with institutional investors and join a panel discussing the future of COVID-19 treatments. iBio is recognized for its plant-based biologics manufacturing and is advancing treatments like IBIO-100 for fibrotic diseases. The panel, led by Jim Molloy, will address upcoming diagnostics and therapies following major vaccine developments.
iBio, Inc. (NYSEA:IBIO) announced it will release its fiscal 2021 Q1 financial results on November 16, 2020, after market close. The management will host a conference call at 4:30 p.m. ET to discuss the results and provide corporate updates. Investors can access the live and archived webcast on www.ibioinc.com in the Investors section. iBio specializes in plant-based biologics manufacturing, using its patented FastPharming System to produce monoclonal antibodies, vaccines, and other proteins.
iBio Appoints New COO
iBio has appointed Randy J. Maddux as Chief Operating Officer, effective December 1, 2020. With over 20 years of experience in biologics drug development and manufacturing, Maddux previously held leadership roles at Aptevo Therapeutics and GlaxoSmithKline, where he managed significant manufacturing sites. His expertise in biologics is expected to benefit iBio as it expands its pipeline and contract development and manufacturing services. The company focuses on plant-based biologics through its FastPharming system and has promising products in the pipeline, including treatments for fibrotic diseases.
iBio has appointed Gary Sender to its Board of Directors effective October 14, 2020. He will chair the Audit Committee and join the Compensation Committee. Sender brings over 25 years of financial leadership experience from the pharmaceutical and biotech sectors, currently serving as CFO of Nabriva Therapeutics. He has previously held senior roles at Synergy Pharmaceuticals and Shire Plc.
Sender's expertise is expected to enhance iBio's strategic growth, particularly with its FastPharming® System and proprietary technologies.
iBio has appointed Dr. Alexandra Kropotova as a new Board member, effective October 14, 2020. She will also join the newly formed Science & Technology Committee, chaired by Dr. Philip Russell. Dr. Kropotova brings over 20 years of experience in biopharmaceuticals, having held leadership roles at Teva Pharmaceuticals, Sanofi, and Pfizer. Her expertise includes global clinical development and translational medicine. CEO Tom Isett expressed confidence in her contributions to advancing iBio's initiatives in pulmonology, oncology, and fibrotic diseases.
iBio, a biotech company, has appointed Dr. Linda Armstrong to its Board of Directors and the newly established Science & Technology Committee. Dr. Armstrong brings over 20 years of expertise in respiratory diseases, having previously served as Global Head of Respiratory Development at Novartis. Her experience in biologics development is expected to enhance iBio's respiratory disease portfolio, including COVID-19 therapeutic candidates and IBIO-100 for idiopathic pulmonary fibrosis. iBio aims to leverage her insights to advance its product development initiatives.
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