IBIO iBio Inc.

1.96
-0.12  -6%
Previous Close 2.08
Open 1.9
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Market Cap $234,799,521
Shares 119,795,674
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Enterprise Value $272,710,001
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  1. NEW YORK, June 26, 2020 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSE:IBIO) ("iBio" or the "Company"), a biologics innovator and contract manufacturing organization, today announced that it will be added to the Russell 2000® and Russell 3000® indexes as part of this year's reconstitution. The additions will be made effective after the U.S. markets open on June 29, 2020.

    "Being included among the companies that comprise the Russell indexes is a significant milestone for iBio, which, we believe reflects the significant progress we have made towards building shareholder value over the past few months," said Tom Isett, Chairman and CEO of iBio. "Since December 1, 2019, we have launched our FastGlycaneering Development Service™; supported initiatives…

    NEW YORK, June 26, 2020 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSE:IBIO) ("iBio" or the "Company"), a biologics innovator and contract manufacturing organization, today announced that it will be added to the Russell 2000® and Russell 3000® indexes as part of this year's reconstitution. The additions will be made effective after the U.S. markets open on June 29, 2020.

    "Being included among the companies that comprise the Russell indexes is a significant milestone for iBio, which, we believe reflects the significant progress we have made towards building shareholder value over the past few months," said Tom Isett, Chairman and CEO of iBio. "Since December 1, 2019, we have launched our FastGlycaneering Development Service™; supported initiatives for the development of bioinks for 3D bioprinting; and expanded business collaborations with two partners for the development of a bio-better rituximab. Additionally, we recapitalized the Company and began implementing our hiring plan so as to prepare to advance IBIO-100 for the treatment of fibrotic diseases while adding more proprietary products to our portfolio. To that end, when the COVID-19 pandemic began to emerge, we quickly responded by designing two novel vaccines against SARS-CoV-2. Shortly thereafter, we demonstrated manufacturability of both platforms, signed key partnerships with providers of preclinical testing services and adjuvant technologies, and gained support from industry leaders in clinical trials data management. With preclinical immunization data for our IBIO-200 and IBIO-201 COVID-19 vaccine candidates expected in Q3-2020, we see potential additional value-creating milestones in the near term."

    FTSE Russell is a global index provider that makes available a comprehensive range of indexes used by investors to measure and analyze global markets. The Russell Indexes have been widely accepted by institutional investors for their integrity and usability. The Russell 3000® Index measures the performance of the largest 3,000 publicly-traded companies in the United States, and the Russell 2000® Index is the most common benchmark for small capitalization companies.

    About iBio's COVID-19 Vaccine Development Program

    On March 11, 2020, the Company filed four provisional patent applications with the U.S. Patent and Trademark Office in support of its COVID-19 vaccine platforms. The virus-like particle ("VLP") program ("IBIO-200") was subsequently announced on March 18, 2020. The LicKM-Subunit program ("IBIO-201") was announced on June 3, 2020. If the program(s) move into clinical trials, iBio has the capability to rapidly develop and manufacture at clinical and commercial scales in its 130,000 square foot facility in Bryan, Texas. Originally built in 2010 with funding from the U.S. Defense Advanced Research Projects Agency (DARPA), iBio's FastPharming Facility™ was part of the "Blue Angel" initiative to establish factories capable of rapid delivery of medical countermeasures in response to a disease pandemic.

    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 FastGlycaneering 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 COVID-19 disease. 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 the significant progress the Company has made towards building shareholder value over the past few months, preclinical immunization data for IBIO-200 and IBIO-201 COVID-19 vaccine candidates expected in Q3-2020, and potential additional value-creating milestones in the near term. 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 continue to build shareholder value and maintain its market capitalization, 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 patent estate, 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 factors discussed in the Company's Annual Report on Form 10-K for the year ended June 30, 2019 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

     

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  2. NEW YORK, June 24, 2020 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSE:IBIO) ("iBio" or the "Company"), a biologics contract manufacturing organization and biotechnology company, today announced that IBM Watson Health has selected iBio to receive 18 months of use of the IBM Clinical Development (ICD) solution, free-of-charge.

    IBM Watson Health recently began offering its ICD solution to eligible trial sponsor organizations as part of its efforts to help support the medical community to address the COVID-19 pandemic. IBM Watson Health has received interest in the offering from numerous hospitals, sponsors, contract research organizations and academic institutions, and is currently enabling 15 COVID-19 disease trials.

    "We are deeply appreciative of…

    NEW YORK, June 24, 2020 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSE:IBIO) ("iBio" or the "Company"), a biologics contract manufacturing organization and biotechnology company, today announced that IBM Watson Health has selected iBio to receive 18 months of use of the IBM Clinical Development (ICD) solution, free-of-charge.

    IBM Watson Health recently began offering its ICD solution to eligible trial sponsor organizations as part of its efforts to help support the medical community to address the COVID-19 pandemic. IBM Watson Health has received interest in the offering from numerous hospitals, sponsors, contract research organizations and academic institutions, and is currently enabling 15 COVID-19 disease trials.

    "We are deeply appreciative of IBM's vote-of-confidence, which recognizes the potential of iBio's COVID-19 vaccine development efforts from among the hundreds of organizations that applied for access to IBM's ICD solution," said Tom Isett, Co-Chairman & CEO of iBio. "This technology helps to support the rapid and efficient undertaking of clinical trials of iBio's COVID-19 vaccine candidates. It also complements our FastPharming System's core speed, quality and scale-up advantages in the development of vaccines and therapeutics. Through strategic collaborations like this one, we believe iBio is now poised with the tools, technology and capital necessary to compete in the fight against COVID-19."    

    iBio currently anticipates that data from the preclinical immunization studies of its two COVID-19 vaccine candidates, IBIO-200 and IBIO-201, which are being conducted at Texas A&M University System laboratories, will be available in Q3-2020.

    "The COVID-19 pandemic is an unprecedented global public health crisis and there is an increasing sense of urgency to develop safe and effective treatments as infection rates continue to escalate at an alarming rate," said Mary Varghese Presti, Vice President, Life Sciences, IBM Watson Health. "We are committed to leveraging our ICD solution to help accelerate the timelines for COVID-19 clinical trials and are enabling access to the platform, free of charge, for relevant trial sponsors. We are inspired by iBio's commitment, as well as all of the other leaders in the life sciences community, as they apply their expertise and ingenuity to help millions of patients worldwide. IBM is proud to play a meaningful role in this ambitious effort."

    ICD is a unified, SaaS-based electronic data capture (EDC) platform, designed to provide end-to-end visibility as well as patient, site, and clinical trial management capabilities. ICD is designed to help clinical trial sponsors and clinical site staff reduce the time and cost of clinical trials by centralizing and organizing information, providing 24/7 access to clinical trial data via a single URL from any web-enabled device, and providing a flexible and scalable data management platform to help design and manage clinical trials by incorporating optional clinical trial-specific features and services.

    About iBio's COVID-19 Vaccine Development Program

    On March 11, 2020, the Company filed four provisional patent applications with the U.S. Patent and Trademark Office in support of its COVID-19 vaccine platforms. The virus-like particle ("VLP") program ("IBIO-200") was subsequently announced on March 18, 2020. The LicKM-Subunit program ("IBIO-201") was announced on June 3, 2020. If the program(s) move into clinical trials, iBio has the capability to rapidly develop and manufacture at clinical and commercial scales in its 130,000 square foot facility in Bryan, Texas. Originally built in 2010 with funding from the U.S. Defense Advanced Research Projects Agency (DARPA), iBio's FastPharming FacilityTM was part of the "Blue Angel" initiative to establish factories capable of rapid delivery of medical countermeasures in response to a disease pandemic.

    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 FastGlycaneering 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 COVID-19 disease. 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 the Company being now poised with the tools, technology and capital necessary to compete in the fight against COVID-19,  clinical trials of the Company's COVID-19 vaccine candidates being rapidly and efficiently undertaken, the Company having the capability to rapidly develop and manufacture at clinical and commercial scales and from the preclinical immunization studies of IBIO-200 and IBIO-201 being available in Q3-2020. 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 obtain regulatory approvals for commercialization of its product candidates, including its COVID-19 vaccine, 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 patent estate, 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 factors discussed in the Company's Annual Report on Form 10-K for the year ended June 30, 2019 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

    Primary Logo

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  3. - IBIO-201, a subunit vaccine combining SARS-CoV-2 spike protein antigens with the Company's proprietary LicKM booster technology, advances to preclinical immunization studies with the potential for rapid manufacturing scale-up in iBio's FastPharming SystemTM -

    NEW YORK, June 04, 2020 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSE:IBIO) ("iBio" or the "Company"), a biotechnology innovator and biologics contract manufacturing organization, today announced initiation of preclinical immunization studies for its second COVID-19 vaccine platform.

    The new subunit vaccine ("IBIO-201") combines antigens derived from the SARS-CoV-2 spike protein fused with the Company's patented lichenase booster molecule ("LicKM"), which is designed to enhance immune response…

    - IBIO-201, a subunit vaccine combining SARS-CoV-2 spike protein antigens with the Company's proprietary LicKM booster technology, advances to preclinical immunization studies with the potential for rapid manufacturing scale-up in iBio's FastPharming SystemTM -

    NEW YORK, June 04, 2020 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSE:IBIO) ("iBio" or the "Company"), a biotechnology innovator and biologics contract manufacturing organization, today announced initiation of preclinical immunization studies for its second COVID-19 vaccine platform.

    The new subunit vaccine ("IBIO-201") combines antigens derived from the SARS-CoV-2 spike protein fused with the Company's patented lichenase booster molecule ("LicKM"), which is designed to enhance immune response. The addition of the LicKM booster to a subunit antigen is expected to improve the likelihood of achieving single-dose, prolonged immunity while also increasing manufacturing capacity through increased potency.

    "The launch of our second COVID-19 vaccine program is emblematic of the speed, flexibility and scalability we can achieve by combining our plant-based FastPharming System™ with other technologies in our intellectual property portfolio, such as LicKM," said Tom Isett, Co-Chairman & CEO of iBio. "As a company with purpose-built pandemic response capabilities, we are pleased that in a matter of weeks we successfully discovered and advanced two promising, unique, internally-developed, COVID-19 vaccine programs into IND-enabling studies. Equally important is that our plant-based system avoids resource-intensive scale-up challenges associated with traditional manufacturing approaches so that we should be able to more rapidly produce high-quality material for hundreds of millions of doses upon regulatory clearance."

    Based on extensive research, iBio believes that the lichenase thermostable immunomodulator protein technology has the potential to increase both the potency of subunit vaccines as well as the durability of the immune response. Previously published peer-reviewed laboratory data demonstrated that an iBio lichenase-based vaccine candidate provided full protection against aerosolized pneumonic plague in non-human primates. In addition, published data have demonstrated the value of the lichenase technology in vaccine candidate applications targeting both anthrax and yellow fever virus.

    "One of the common challenges with soluble antigens is that they often require the use of an adjuvant to boost their immunogenicity," commented Dr. Sylvain Marcel, iBio's VP of Protein Expression Sciences. "Our LicKM technology has the potential to achieve the same immune response as a soluble antigen vaccine approach, but with lower vaccine antigen requirements. This may prove to be valuable in reducing the number of vaccine doses necessary to establish prolonged immunity."

    Along with the Company's previously announced virus-like particle ("VLP") vaccine candidate ("IBIO-200"), the LicKM-Subunit vaccine will be tested at Texas A&M University System ("TAMUS") laboratories as part of the Master Joint Development Agreement established between iBio and TAMUS in 2016, as well as a Memorandum of Understanding entered into between iBio and Infectious Disease Research Institute ("IDRI") in April 2020. The Company's decision to exercise its option to include one of IDRI's novel adjuvants in any COVID-19 vaccine programs will be made within 60 days of completion of the immunization studies.

    About iBio's COVID-19 Vaccine Development Program

    On March 11, 2020, the Company filed four provisional patent applications with the U.S. Patent and Trademark Office in support of its COVID-19 vaccine platforms. The virus-like particle ("VLP") program ("IBIO-200") was subsequently announced on March 18, 2020. The LicKM-Subunit program ("IBIO-201") was announced on June 3, 2020. If the program(s) move into clinical trials, iBio has the capability to rapidly develop and manufacture at clinical and commercial scales in its 130,000 square foot facility in Bryan, Texas. Originally built in 2010 with funding from the U.S. Defense Advanced Research Projects Agency (DARPA), iBio's FastPharming Facility™ was part of the "Blue Angel" initiative to establish factories capable of rapid delivery of medical countermeasures in response to a disease pandemic.

    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 FastGlycaneering 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 COVID-19 disease. 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 the addition of the LicKM booster to a subunit antigen improving the likelihood of achieving single-dose, prolonged immunity while also increasing manufacturing capacity through increased potency, being able to more rapidly produce high-quality material for hundreds of millions of doses upon regulatory clearance and lichenase thermostable immunomodulator protein technology having the potential to increase both the potency of subunit vaccines as well as the durability of the immune response and the Company's  LicKM technology proving to be valuable in reducing the number of vaccine doses necessary to establish prolonged immunity. 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 more rapidly produce high-quality material for hundreds of millions of doses upon regulatory clearance, the ability of lichenase thermostable immunomodulator protein technology to increase both the potency of subunit vaccines as well as the durability of the immune response, the ability to reduce the number of vaccine doses necessary to establish prolonged immunity, 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 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 patent estate, 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 factors discussed in the Company's Annual Report on Form 10-K for the year ended June 30, 2019 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

     

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  4. - Company Expands Involvement in the Manufacturing USA® Network, Joining the National Institute for Innovation in Manufacturing Biopharmaceuticals -

    NEW YORK , April 27, 2020 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSE:IBIO) ("iBio" or the "Company"), a biologics contract manufacturing organization and biotechnology company, today provided an update on its COVID-19 vaccine manufacturing capacity and announced that it has joined the National Institute for Innovation in Manufacturing Biopharmaceuticals ("NIIMBL"), one of 14 institutes in the Manufacturing USA Network.  

    "If our own proprietary SARS-CoV-2 Virus-Like Particle ("VLP") program, IBIO-200, results in an approved vaccine, we estimate that we could make about 500 million doses of high-quality…

    - Company Expands Involvement in the Manufacturing USA® Network, Joining the National Institute for Innovation in Manufacturing Biopharmaceuticals -

    NEW YORK , April 27, 2020 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSE:IBIO) ("iBio" or the "Company"), a biologics contract manufacturing organization and biotechnology company, today provided an update on its COVID-19 vaccine manufacturing capacity and announced that it has joined the National Institute for Innovation in Manufacturing Biopharmaceuticals ("NIIMBL"), one of 14 institutes in the Manufacturing USA Network.  

    "If our own proprietary SARS-CoV-2 Virus-Like Particle ("VLP") program, IBIO-200, results in an approved vaccine, we estimate that we could make about 500 million doses of high-quality product annually at our Texas facility, depending upon the potency we see in the clinic," said Tom Isett, Co-Chairman & CEO of iBio.

    "That scalability links directly to the modular technology behind our FastPharming Manufacturing System, which uses a relative of the tobacco plant as the 'bioreactor' to produce biopharmaceuticals," continued Mr. Isett. "So, the amount of product generated by a single plant is consistent from research- to commercial-scale, and scale-up is achieved by simply growing thousands more plants within our 130,000 square foot facility.  This is real innovation in the manufacture of biopharmaceuticals, thus our significant synergy with the NIIMBL community."

    NIIMBL is a public-private partnership that aims to accelerate biopharmaceutical manufacturing innovations and establish an international, leading workforce to fundamentally strengthen the U.S. biopharmaceutical industry. NIIMBL has an extensive network of more than 140 academic and industry partners within the U.S., including biopharmaceutical companies, academic institutions, research laboratories and non-profit organizations. To learn more, visit www.NIIMBL.org

    "Our member community is working in a variety of ways to prevent, reduce and combat pandemics like COVID-19. We welcome iBio to our community of innovators in the biopharmaceutical manufacturing space," said Kelvin H. Lee, NIIMBL Institute Director.  

    NIIMBL is the second Manufacturing USA member institute that iBio has joined in recent months. In December 2019, iBio also became a part of Manufacturing USA's biofabrication initiative, the Advanced Regenerative Manufacturing Institute, which is supporting the development of next-generation manufacturing processes and technologies for cells, tissues and organs.

    Mr. Isett added, "Given Manufacturing USA's increasing COVID-19 response efforts, we are honored to expand our involvement by joining NIIMBL as American companies with enabling technologies work together to fight the pandemic. To that end, in addition to work on our proprietary VLP vaccine, we are ready to make the FastPharming System available to other COVID-19 vaccine and therapeutic developers on a contract manufacturing basis to help speed their products to market as well."   

    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 gram quantities of high-quality monoclonal antibodies, vaccines, bioinks and other proteins. The Company's subsidiary, iBio CDMO LLC, provides FastPharming Contract Development and Manufacturing Services via its 130,000 square foot facility in Bryan, Texas. Originally built in 2010 with funding from the U.S. Defense Advanced Research Projects Agency (DARPA), iBio's FastPharming Facility was part of the "Blue Angel" initiative to establish factories capable of rapid delivery of medical countermeasures in response to a disease pandemic. iBio's FastGlycaneering 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 IBIO-200, a COVID-19 vaccine. For more information, visit www.ibioinc.com.

    FORWARD-LOOKING STATEMENTS
    STATEMENTS INCLUDED IN THIS NEWS RELEASE RELATED TO IBIO, INC. MAY CONSTITUTE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. SUCH STATEMENTS INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES SUCH AS COMPETITIVE FACTORS, TECHNOLOGICAL DEVELOPMENT, MARKET DEMAND, AND THE COMPANY'S ABILITY TO OBTAIN NEW CONTRACTS AND ACCURATELY ESTIMATE NET REVENUES DUE TO VARIABILITY IN SIZE, SCOPE, AND DURATION OF PROJECTS. FURTHER INFORMATION ON POTENTIAL RISK FACTORS THAT COULD AFFECT THE COMPANY'S FINANCIAL RESULTS CAN BE FOUND IN THE COMPANY'S REPORTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.

    Contacts:

    Stephen Kilmer
    iBio, Inc.
    Investor Relations
    (646) 274-3580

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  5. NEW YORK, April 09, 2020 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSE:IBIO) ("iBio" or the "Company"), a biologics contract manufacturing organization and biotechnology innovator, today announced the signing of two Master Services Agreements (the MSAs") and a Memorandum of Understanding (the "MoU") with the Infectious Disease Research Institute ("IDRI") in support of iBio's SARS-CoV-2 Virus-Like Particle ("VLP") vaccine development.

    Under the MSAs, IDRI will support pre-clinical development and provide clinical trial oversight, while iBio will provide process development and manufacturing services to IDRI, as needed. Additionally, the MoU calls for iBio and IDRI to establish a separate, additional agreement within the next 60 days if the Company opts…

    NEW YORK, April 09, 2020 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSE:IBIO) ("iBio" or the "Company"), a biologics contract manufacturing organization and biotechnology innovator, today announced the signing of two Master Services Agreements (the MSAs") and a Memorandum of Understanding (the "MoU") with the Infectious Disease Research Institute ("IDRI") in support of iBio's SARS-CoV-2 Virus-Like Particle ("VLP") vaccine development.

    Under the MSAs, IDRI will support pre-clinical development and provide clinical trial oversight, while iBio will provide process development and manufacturing services to IDRI, as needed. Additionally, the MoU calls for iBio and IDRI to establish a separate, additional agreement within the next 60 days if the Company opts to include one of IDRI's novel adjuvants in the COVID-19 vaccine development program ("IBIO-200"). The MSAs and the MoU integrate IDRI into iBio's collaboration with the Texas A&M University System to create a strong partnership that brings deep experience and advanced technologies and capabilities to the task of moving IBIO-200 into the clinic.

    "We are delighted to have IDRI contribute its deep understanding of infectious diseases and vaccine development expertise to the team," said Tom Isett, Co-Chairman & Chief Executive Officer of iBio. "We are also looking forward to evaluating the novel adjuvants in IDRI's portfolio that may deliver even greater immunostimulatory effects. A more potent antigen-adjuvant combination would further increase our projected manufacturing capacity for production of a vaccine for COVID-19 disease."

    "We are excited to be a partner in the development of IBIO-200," said Corey Casper, M.D., MPH, Chief Executive Officer of the IDRI and Clinical Professor of Medicine and Global Health at the University of Washington. "Combining iBio's VLP antigen with an IDRI adjuvant provides for promising safety and efficacy characteristics, and importantly, the ready ability to scale-up manufacturing to help meet the projected global demand for a suitable vaccine."

    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 gram quantities of high-quality monoclonal antibodies, vaccines, bioinks and other proteins. The Company's subsidiary, iBio CDMO LLC, provides FastPharming Contract Development and Manufacturing Services via its 130,000 square foot facility in Bryan, Texas. Originally built in 2010 with funding from the U.S. Defense Advanced Research Projects Agency (DARPA), iBio's FastPharming Facility was part of the "Blue Angel" initiative to establish factories capable of rapid delivery of medical countermeasures in response to a disease pandemic. iBio's FastGlycaneering 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 IBIO-200, a COVID-19 vaccine. For more information, visit www.ibioinc.com.

    About the Infectious Disease Research Institute

    As a nonprofit global health organization, IDRI (Infectious Disease Research Institute) takes a comprehensive approach to combat infectious diseases, combining the high-quality science of a research organization with the product development capabilities of a biotech company to create vaccines and therapeutics. IDRI combines passion for improving human health with the understanding that it is not just what our scientists know about disease, but what we do to change its course that will have the greatest impact. Founded in 1993, IDRI has 55 employees headquartered in Seattle with more than 100 partners/collaborators around the world. For more information, visit www.idri.org.

    About The Texas A&M University System

    TAMUS is one of the largest systems of higher education in the nation with a budget of $6.3 billion. The System is a statewide network of 11 universities; a comprehensive health science center; eight state agencies, including the Texas Division of Emergency Management; and the RELLIS Campus. The Texas A&M System educates more than 151,000 students and makes more than 22 million additional educational contacts through service and outreach programs each year. System-wide, research and development expenditures exceeded $1 billion in FY 2019 and helped drive the state's economy.

    FORWARD-LOOKING STATEMENTS
    STATEMENTS INCLUDED IN THIS NEWS RELEASE RELATED TO IBIO, INC. MAY CONSTITUTE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. SUCH STATEMENTS INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES SUCH AS COMPETITIVE FACTORS, TECHNOLOGICAL DEVELOPMENT, MARKET DEMAND, AND THE COMPANY'S ABILITY TO OBTAIN NEW CONTRACTS AND ACCURATELY ESTIMATE NET REVENUES DUE TO VARIABILITY IN SIZE, SCOPE, AND DURATION OF PROJECTS. FURTHER INFORMATION ON POTENTIAL RISK FACTORS THAT COULD AFFECT THE COMPANY'S FINANCIAL RESULTS CAN BE FOUND IN THE COMPANY'S REPORTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.

    Contacts:

    Stephen Kilmer
    iBio, Inc.
    Investor Relations
    (646) 274-3580

    The Fearey Group
    Public Relations for IDRI

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