iBio, Inc. And Caliber Biotherapeutics Designate New Fusion Protein As Target Product Under License And Collaboration Agreement
Published: Jan 15, 2014
NEWARK, DE--(Marketwired - January 15, 2014) - iBio, Inc. (NYSE MKT: IBIO) announced today that the company and Caliber Biotherapeutics have designated a proprietary fusion protein for cancer treatment as the first product target for advancement on the iBioLaunch™ platform under the License and Collaboration Agreement between the company and Caliber dated February 14, 2013.
"In addition to its other attributes, iBio technology produces antibodies efficiently," stated Robert Erwin, iBio's president. "We are confident our technology will prove superior to traditional animal cell methods for efficient delivery of this promising new class of fusion-protein biotherapeutics, and we look forward to working with Caliber to rapidly move this molecule into clinical trials."
"This further collaboration with iBio gives us even more resources to rapidly optimize our production system," commented Dr. Barry Holtz, Caliber Biotherapeutics' chief science and technology officer. "At Caliber we have an advantage in mAb development and large scale production. We do not have to develop a new cell line for each mAb construct. In addition, our bioreactors are individual plants so we do not have to scale-up to larger reactor components. We just grow 2.2 million individual bioreactors if necessary. This allows very rapid process and clinical development and shortens the time to large scale production and ultimately time to market."
Under the terms of the agreement between iBio and Caliber, iBio will receive license and milestone fees for development of product targets. Caliber is responsible for funding clinical development and commercialization of such collaboration products, and iBio is entitled to receive royalties on such product sales and other revenues. Detailed financial terms of the agreement have not been disclosed.
About Caliber Biotherapeutics, LLC
Caliber Biotherapeutics, LLC is a biotechnology company based in Bryan, Texas with a mission to develop and commercialize protein-based therapeutics that improve outcomes for patients with cancer and other diseases. The Company utilizes technological innovations in biological research, product development and manufacturing to create treatments with increased safety and effectiveness -- while reducing both costs and development time. Caliber has created a rich pipeline of monoclonal antibody-based products, including biobetter product candidates applying its expertise in the Nicotiana benthamiana plant-based expression and manufacturing of recombinant proteins. Caliber operates the world's largest N. benthamiana expression based protein manufacturing facility in College Station, Texas. Caliber's technologies have been and are being supported by the Cancer Prevention and Research Institution of Texas (CPRIT), DARPA and several Texas based life sciences investors. For more information, please visit www.caliberbio.com.
About iBio, Inc.
iBio develops and offers proprietary products and product licenses, based on its proprietary iBioLaunch and iBioModulator™ platforms, providing collaborators full support for turn-key implementation of its technology for protein therapeutics and vaccines. In Brazil, iBio has been collaborating with Oswaldo Cruz Foundation (Fiocruz) and Fraunhofer Center for Molecular Biotechnology since 2011 to develop a recombinant yellow fever vaccine based upon iBio technology. 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 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.
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