iBio Announces Appointment of Thomas F. Isett to Board of Directors
April 01 2019 - 8:30AM
iBio, Inc. (NYSE AMERICAN:IBIO), a biologics contract manufacturer
and product developer with proprietary, “green” technologies for
biopharmaceutical production, today announced the appointment of
Thomas F. Isett to its Board of Directors, effective immediately.
Mr. Isett is an accomplished executive with
decades of successful management and corporate development
experience in the life sciences, with notable focus upon biologics
contract development and manufacturing organizations (CDMOs). In
2015, he founded i.e. Advising, LLC, a management and strategy
consulting firm, as well as Commence Bio, Inc., a private,
early-stage developer of cellular immunotherapies. As
Managing Director of i.e. Advising - and in his earlier corporate
development roles – Mr. Isett has advised Fortune 500 companies,
private equity firms, biotechs, and standards-setting organizations
on key strategy, M&A, and intellectual property decisions in
life sciences. Over the course of his career, he has been involved
in dozens of transactions cumulatively valued at over $20
billion.
Prior to his founding of i.e. Advising, Mr.
Isett held leadership roles for bioprocess product and service
businesses over his 25 combined years with GE, Lonza, and BD.
Mr. Isett was the founder of Becton Dickinson’s BD Advanced
Bioprocessing business, which he led from inception to over $60
million in revenues by 2009; by 2018, revenues reached $100 million
and the business was sold for $477 million. At Lonza, he
contributed to the rapid growth of the cell & gene therapy CDMO
unit as Head of Cell Processing Technologies. Notably, while with
GE Life Sciences, he accelerated growth for the North American
BioProcess business via the introduction of an integrated solutions
strategy, along with new commercial and operating mechanisms to
support execution.
“We are delighted to welcome Tom to our Board,”
said Robert B. Kay, iBio’s Chairman and CEO. “Tom has a deep
knowledge base and broad management experience across a variety of
functional disciplines in biologics. His guidance and insight will
be important as we seek to establish iBio as a global leader in the
development and manufacture of biological medicines. Key to
realizing this goal is the continued expansion of our CDMO
technologies and capabilities. We are confident that Tom’s specific
experience in this area will be a tremendous asset to iBio as we
move forward.”
Mr. Isett commented, “I’m happy for the
opportunity to join iBio’s Board during this exciting period in the
Company’s history. iBio’s plant-based technology platform
allows for rapid process development, dependable scale-up, and
truly ‘green,’ sustainable bioprocessing when compared to
traditional approaches. With these advantages and the Company’s
impressive, large-scale manufacturing capabilities, I believe iBio
is exceptionally well positioned to meet the industry’s demands for
faster, lower-cost, and more environmentally friendly production of
biological medicines. I look forward to contributing to the work of
the Board and iBio’s pioneering management team.”
About iBio, Inc.
iBio, a leader in developing plant-based
biopharmaceuticals, provides a range of product and process
development, analytical, and manufacturing services at the
large-scale development and manufacturing facility of its
subsidiary iBio CDMO, LLC in Bryan, Texas. The facility
houses laboratory and pilot-scale operations, as well as
large-scale automated hydroponic systems capable of growing over
four million plants as "in process inventory" and delivering over
300 kilograms of therapeutic protein pharmaceutical active
ingredient per year. For more information please visit
www.ibioinc.com.
FORWARD-LOOKING STATEMENTS
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.
Contact:
Stephen KilmerInvestor Relations(646) 274-3580
skilmer@ibioinc.com
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