– Deal includes
– iBio’s proprietary therapeutic pipeline will now be comprised entirely of promising immuno-oncology candidates –
Under the terms of the Agreement, iBio will receive an upfront payment of
PD-1 is a pivotal checkpoint in the immune system, acting as a type of "off switch" that helps keep the cells from attacking other cells in the body. By agonizing or enhancing the signaling of PD-1, it is possible to temper the immune response, making it particularly valuable in the treatment of autoimmune diseases. In conditions where the immune system mistakenly wages war on the body's own cells, such as in autoimmune diabetes or lupus, therapies that target PD-1 can potentially reduce the severity of these autoimmune reactions. However, unlike PD-1 antagonists used in immuno-oncology, PD-1 agonists, like the one iBio is selling to Otsuka, are difficult to find.
“We believe this is an important transaction for iBio, and a win-win for both companies,” said iBio’s Chief Executive Officer and Chief Scientific Officer,
About
Otsuka is a global healthcare company with the corporate philosophy: Otsuka–people creating new products for better health worldwide. Otsuka researches, develops, manufactures, and markets innovative products, with a focus on pharmaceutical products to meet unmet medical needs and nutraceutical products for the maintenance of everyday health.
In pharmaceuticals, Otsuka is a leader in the challenging areas of mental, renal, and cardiovascular health and has additional research programs in oncology and on several under-addressed diseases including tuberculosis, a significant global public health issue. These commitments illustrate how Otsuka is a big venture company at heart, applying a youthful spirit of creativity in everything it does.
All Otsuka stories start by taking the road less traveled. Learn more about Otsuka in the
About
iBio 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 the expected closing date of the transaction and the potential milestone payments to the Company, the Company’s new source of non-dilutive capital; its ability to further validate our precision-driven and deeply integrated technology stack to deliver antibody candidates against challenging targets, including the development of complex antibody modalities such as agonistic antibodies; its ability to continue to develop of our proprietary immuno-oncology pipeline and the patented AI-powered tech stack, the ability of the PD-1 agonist program to be developed. 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 generate non-dilutive capital; Otsuka’s ability to generate results from the acquisition of the PD-1 agonist program; Otsuka’s ability to obtain regulatory approvals for commercialization of the PD-1 agonist program to generate commercial sales, or to comply with ongoing regulatory requirements; or the Company’s ability to maintain its NYSE American listing; and the other factors discussed in the Company’s filings with the
Contacts:
Investor Relations
(646) 274-3580
skilmer@ibioinc.com
Media Relations
(619) 540-9195
susan.thomas@ibioinc.com
Source:
2024 GlobeNewswire, Inc., source