iBio Pharmaceutical Technology Embraced by the Government of Brazil
Published: Jun 24, 2013
NEWARK, Del., June 24, 2013 /PRNewswire/ -- iBio, Inc. (NYSE MKT: IBIO) today released the following information, which was contained in the Portuguese language report published on June 18, 2013 in the official Journal of the Government of Brazil under the heading, "Brazil Expands Production of Biological Medicines." This information is being released in this translated form by iBio to assure uniform distribution to the public of material information regarding iBio. References to the "factory" refer to the facility described in iBio's press release dated April 9, 2013 and to the "first vaccine in the world from a plant," to the vaccine described in iBio's release dated January 18, 2011.
"The ministry will invest U.S. $ 170 million in the construction of the first national factory of organic products made from plant cell technology unprecedented in the country, in Ceara."
"The first technology platform for the production of biological medicines from plant cells, such as carrot and tobacco, involves partnerships between Fiocruz and the Israeli company Protalix, the American Fraunhofer USA Center for Molecular Biotechnology, and iBio Inc. This was also the first plant-based biotechnological which was registered in the Food and Drug Administration (FDA) and the National Agency for Sanitary Surveillance (ANVISA), worldwide. Operations should start at full steam in 2016. The new Fiocruz center will be installed in the city of Eusebio near Fortaleza (Ceara) and construction starts from 2014. A factory will initially produce drugs for rare diseases as Taliglucerase Alfa Recombinant Human, for Gaucher disease, and the first vaccine in the world from a plant, against yellow fever."
"The production process from the extraction plant is a novelty in the country. The technology ensures higher security than the biological produced from viruses and bacteria. It produces fewer side effects and less resistance facing the human body which receives the treatment. Moreover, it requires less investment."
"Ceara is very happy to help correct regional inequalities. It is the country's time to celebrate because we see investing in Brazil and seeing possibilities," said state governor Cid Gomes.
"Organic products are more effective compared to traditional medicines from chemical synthesis, increasing the chances of successful treatment especially for chronic diseases. They are made from living material and manufactured from processes involving personalized medicine and molecular biology."
"Currently biological resources represent 43% of the medicines used by the Ministry of Health, or about U.S. $ 4 billion per year."
Full text of the original Portuguese language article is available at this link: http://www.jornaldebrasilia.com.br/site/noticia.php?brasil-amplia-producao-de-medicamentos-biologicos&id=476955
About iBio, Inc.
iBio develops and offers product applications of its iBioLaunch and iBioModulator platforms, providing collaborators full support for turn-key implementation of its technology for both proprietary and biosimilar products. Additionally, iBio is developing select product candidates that have been derived from the iBioLaunch platform. The iBioLaunch platform is a proprietary, transformative technology for development and production of biologics using transient gene expression in unmodified green plants. The iBioModulator platform is complementary to the iBioLaunch platform and is designed to significantly improve vaccine products with both higher potency and greater duration of effect. The iBioModulator platform can be used with any recombinant expression technology for vaccine development and production. Further information is available at: www.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.
SOURCE iBio, Inc.
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