iBio Announces Proposed Public Offering of Common Stock
December 07 2020 - 4:01PM
iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), a biotech
innovator and biologics contract manufacturing organization, today
announced an underwritten public offering of its common stock. In
addition, iBio has granted the underwriter a 30-day option to
purchase up to an additional 15% of the number of shares of its
common stock offered in the public offering.
Cantor Fitzgerald & Co. is acting as the
sole book-running manager for the offering.
iBio anticipates using the net proceeds from the
offering to accelerate development of its biotherapeutic and
vaccine candidates, in-licensing of biopharmaceutical assets,
including, but not limited to, those in oncology, fibrotic, and
infectious diseases, and working capital needs and for other
general corporate purposes, including acquisitions and investments
in other businesses.
The securities described above are being offered
by iBio pursuant to a shelf registration statement on Form S-3
previously filed with, and declared effective by, the Securities
and Exchange Commission (the “SEC”). A preliminary prospectus
supplement related to the offering will be filed with the SEC and
will be available on the SEC’s website at www.sec.gov. Copies
of the preliminary prospectus supplement and the accompanying base
prospectus relating to this offering may be obtained, when
available, from Cantor Fitzgerald & Co., Attn: Capital Markets,
499 Park Avenue, 6th floor, New York, NY 10022; Email:
prospectus@cantor.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About iBio, Inc.
iBio is a global leader in plant-based biologics
manufacturing. Its FastPharming® System
combines vertical farming, automated hydroponics, and glycan
engineering technologies to rapidly deliver high-quality monoclonal
antibodies, vaccines, bioinks and other proteins. iBio is
developing proprietary products on the
FastPharming Platform, which include
biopharmaceuticals for the treatment of fibrotic and infectious
diseases, amongst others. The Company’s subsidiary, iBio CDMO LLC,
provides FastPharming Contract
Development and Manufacturing Services along with the
Glycaneering Development Service™ for
engineering high-performance recombinant glycoproteins.
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 completion of the
offering and the anticipated use of proceeds. 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, changes to the offering as a
result of market conditions or for other reasons, the risk that the
offering will not be consummated, the Company’s ability to obtain
regulatory approvals for commercialization of its product
candidates, including its infectious disease vaccines, or to comply
with ongoing regulatory requirements, regulatory limitations
relating to its ability to promote or commercialize its product
candidates for specific indications, acceptance of its product
candidates in the marketplace and the successful development,
marketing or sale of products, its ability to maintain its license
agreements, the continued maintenance and growth of its patent
estate, its ability to establish and maintain collaborations, its
ability to obtain or maintain the capital or grants necessary to
fund its research and development activities, competition, its
ability to retain its key employees or maintain its NYSE American
listing, and the other factors discussed in the Company’s Annual
Report on Form 10-K for the year ended June 30, 2020 and the
Company’s subsequent filings with the SEC, including subsequent
periodic reports on Form 10-Q and Form 8-K. The information in this
release is provided only as of the date of this release, and we
undertake no obligation to update any forward-looking statements
contained in this release on account of new information, future
events, or otherwise, except as required by law.
Contact:
Stephen KilmeriBio, Inc.Investor Relations(646)
274-3580skilmer@ibioinc.com
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