Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* Isett Thomas Francis 3rd	2. Issuer Name and Ticker or Trading Symbol iBio, Inc. [ IBIO ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) CEO and Executive Co-Chairman
(Last) (First) (Middle) C/O IBIO, INC., 600 MADISON AVENUE SUITE 1601	3. Date of Earliest Transaction (MM/DD/YYYY) 3/17/2020
(Street) NEW YORK, NY 10022 (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	3/19/2020		C⁽⁸⁾		100000	A	$0.20	1275000 ⁽⁵⁾	D
Common Stock	3/17/2020		X⁽⁹⁾		78024	A	$0.22	1275000 ⁽⁵⁾	D

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)
Series C Convertible Preferred Stock ⁽¹⁾	$0.20 ⁽²⁾	3/19/2020		C ⁽⁸⁾		20		⁽²⁾	⁽³⁾	Common Stock	100000	$1000 ⁽⁴⁾	1275000 ⁽⁵⁾	D
Series B Warrants (Right to Buy) ⁽⁶⁾	$0.22	3/17/2020		X ⁽⁹⁾		78024		10/29/2019	10/29/2026	Common Stock	78024	$1000 ⁽⁷⁾	1275000 ⁽⁵⁾	D

Explanation of Responses:
(1)	The shares of Series C Convertible Preferred Stock were acquired by Mr. Isett in a public offering by iBio, Inc. ("iBio").
(2)	Each Series C Preferred Share has a stated value of $1,000 and is convertible into shares of iBio's common stock at any time and from time to time at the option of the holder at a price of $0.20 per share, subject to adjustment as provided in the Certificate of Designation of Preferences, Rights and Limitations of the Series C Convertible Preferred Stock, provided that the Series C Preferred Shares may not be converted if the holder, together with the holder's affiliates, would beneficially own over 4.99% (which may be increased up to 9.99% upon election by the holder on 61 days' notice) of iBio's outstanding common stock at the time of conversion.
(3)	The Series C Preferred Shares have no expiration date.
(4)	Each of Series C Preferred Share was sold together with Series A Warrants to purchase one share of common stock for each share of common stock issuable upon conversion of the Series C Preferred Share and Series B Warrants to purchase one share of common stock for each share of common stock issuable upon conversion of the Series C Preferred Share. Each Series C Preferred Share and accompanying Series A Warrants and Series B Warrants was sold at a combined public offering price of $1,000.
(5)	Reflects number of securities beneficially owned following all transactions reported on this Form 4.
(6)	The Series B Warrants were acquired by Mr. Isett in a public offering by iBio.
(7)	The Series B Warrants were sold together with Series C Preferred Shares and Series A Warrants in the public offering. Each of Series C Preferred Share was sold together with Series A Warrants to purchase one share of common stock for each share of common stock issuable upon conversion of the Series C Preferred Share and Series B Warrants to purchase one share of common stock for each share of common stock issuable upon conversion of the Series C Preferred Share. Each Series C Preferred Share and accompanying Series A Warrants and Series B Warrants was sold at a combined public offering price of $1,000.
(8)	100,000 shares of common stock were issued to Mr. Isett upon conversion of 20 shares of Series C Convertible Preferred Stock at a conversion price of $0.20 per share in accordance with the Certificate of Designation of Preferences, Rights and Limitations of the Series C Convertible Preferred Stock. The shares of Series C Convertible Preferred Stock were acquired by Mr. Isett in a public offering by iBio.
(9)	78,024 shares of common stock were issued to Mr. Isett upon exercise of Series B Warrants at an exercise price of $0.22 per share accordance with the terms of the Series B Warrants. The Series B Warrants were acquired by Mr. Isett in a public offering by iBio, Inc.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Isett Thomas Francis 3rd C/O IBIO, INC. 600 MADISON AVENUE SUITE 1601 NEW YORK, NY 10022	X		CEO and Executive Co-Chairman