iBio Joins the Alliance for Biosecurity
NEW YORK, March 20, 2020 (GLOBE NEWSWIRE) — iBio, Inc. (NYSE AMERICAN:IBIO) (“iBio” or the “Company”), a biologics contract manufacturing organization and biotechnology company, today announced that it has joined the Alliance for Biosecurity, a coalition of biopharmaceutical companies – along with laboratory and academic partners – that promotes a strong public-private partnership in order to ensure the medical countermeasures that protect public health are effective and readily available.
The Alliance for Biosecurity supports national health security by advocating for public policies and funding to support the rapid development, production, stockpiling, and distribution of critically needed medical countermeasures that are used to prevent and respond to a variety of threats.
“We welcome iBio as the 20th member company of the Alliance at a pivotal time for the industry as it responds to this unprecedented challenge posed by the COVID-19 pandemic,” said Alliance for Biosecurity Chair, Chris Frech. “There is an obvious need to rapidly develop vaccine and therapeutic candidates for clinical evaluation, effectively collaborate with regulatory agencies, and quickly scale up manufacturing and deployment of adequate quantities to meet the demand for medical countermeasures here in the United States and globally. The Alliance is committed to supporting iBio as it works to apply its FastPharming System™ to help answer that call.”
“We are honored to be invited to join the Alliance as we continue to make progress towards developing vaccine candidates for preventing infection from the SARS-CoV-2 virus,” said Tom Isett, Co-Chairman & CEO of iBio. “Our facility in Bryan, Texas was built specifically for the scenario we now find ourselves in. It is time for companies with enabling technologies to work together to fight this pandemic, and we are looking forward to collaborating with the Alliance and its other members to do just that.”
iBio, Inc., 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 facilities capable of rapid delivery of medical countermeasures in response to a disease pandemic. iBio CDMO enables innovators to use the FastPharming System for insourced manufacturing with Factory Solutions “design-and-build” 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. For more information, visit ibioinc.com.
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.