iBio Announces Development of Proprietary COVID-19 Vaccine Candidates
March 18 2020 - 8:00AM
iBio, Inc. (NYSE AMERICAN:IBIO) (“iBio” or the “Company”), a
biologics contract manufacturing organization and biotechnology
company, today announced its progress towards developing vaccine
candidates for preventing infection from the SARS-CoV-2 virus that
causes the COVID-19 coronavirus disease.
iBio created its SARS-CoV-2 Virus-Like Particle
(“VLP”)-based constructs in just a few weeks using its
FastPharming System™ to produce the nanoparticles
in, and purify them from, plants. The manufacturing platform not
only provides for rapid development of research quantities of
product, but also high-quality material that is readily scalable
for producing doses for clinical trials and commercial use.
On March 11, 2020, iBio filed four provisional
patent applications with the U.S. Patent and Trademark Office in
support of the VLP platform, as well as other technologies for
treating or preventing infections with the SARS-CoV-2 virus.
“We are pleased with both the speed of our
development activities and the quality of the VLPs our technology
is yielding in practice,” said Tom Isett, Co-Chairman & CEO of
iBio. “The tightly controlled particle size allows for uniform
antigen display, which should translate to a consistent dose
response and a highly efficient production process, facilitating a
ramp-up to tens of millions of doses if we are successful in the
clinic.”
Originally built in 2010 with funding from the
Defense Advanced Research Projects Agency (DARPA), part of the U.S.
Department of Defense, iBio’s FastPharming
Facility was part of the “Blue Angel” initiative to establish
facilities capable of rapid delivery of medical countermeasures in
response to a disease pandemic. The factory is equipped with
automated hydroponics and vertical farming systems for the
production of a wide array of biological medicines using a relative
of the tobacco plant as the “bioreactor.”
“I am optimistic about the potential of our
COVID-19 vaccine program,” said Dr. Sylvain Marcel, iBio’s VP of
Protein Expression Sciences. “In addition to our core VLP
production capabilities, we are coating VLPs with oligomannose so
that their glycosylation profile closely resembles that of
naturally occurring SARS-CoV-2 viruses. This may allow for more
efficient uptake of the vaccine by human antigen presenting cells
via their mannose receptors. If so, it could result in enhanced
protection against SARS-CoV-2. We look forward to providing further
updates on our progress as developments unfold.”
About iBio
iBio, Inc., is a global leader in plant-based
biologics manufacturing. Its FastPharming System™
combines vertical farming, automated hydroponics, and glycan
engineering technologies to rapidly deliver gram quantities of
high-quality monoclonal antibodies, vaccines, bioinks and other
proteins. The Company’s subsidiary, iBio CDMO LLC, provides
FastPharming Contract Development and
Manufacturing Services via its 130,000 square foot facility in
Bryan, Texas. Originally built in 2010 with funding from the U.S.
Defense Advanced Research Projects Agency (DARPA), iBio’s
FastPharming Facility was part of the “Blue Angel”
initiative to establish facilities capable of rapid delivery of
medical countermeasures in response to a disease pandemic. iBio
CDMO enables innovators to use the FastPharming
System for insourced manufacturing with Factory Solutions
“design-and-build” services. iBio’s FastGlycaneering
Development Service™ includes an array of new
glycosylation technologies for engineering high-performance
recombinant proteins. Additionally, iBio is developing proprietary
products which include IBIO-100 for the treatment of fibrotic
diseases. For more information, visit www.ibioinc.com.
FORWARD-LOOKING
STATEMENTSSTATEMENTS 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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