iBio Estimates ~500 Million Dose Capacity for COVID-19 Vaccine from its FastPharming Facility™
April 27 2020 - 4:15PM
iBio, Inc. (NYSE AMERICAN:IBIO) (“iBio” or the “Company”), a
biologics contract manufacturing organization and biotechnology
company, today provided an update on its COVID-19 vaccine
manufacturing capacity and announced that it has joined the
National Institute for Innovation in Manufacturing
Biopharmaceuticals (“NIIMBL”), one of 14 institutes in the
Manufacturing USA Network.
“If our own proprietary SARS-CoV-2 Virus-Like
Particle (“VLP”) program, IBIO-200, results in an approved vaccine,
we estimate that we could make about 500 million doses of
high-quality product annually at our Texas facility, depending upon
the potency we see in the clinic,” said Tom Isett, Co-Chairman
& CEO of iBio.
“That scalability links directly to the modular
technology behind our FastPharming Manufacturing
System, which uses a relative of the tobacco plant as the
'bioreactor' to produce biopharmaceuticals,” continued Mr. Isett.
“So, the amount of product generated by a single plant is
consistent from research- to commercial-scale, and scale-up is
achieved by simply growing thousands more plants within our 130,000
square foot facility. This is real innovation in the
manufacture of biopharmaceuticals, thus our significant synergy
with the NIIMBL community.”
NIIMBL is a public-private partnership that aims
to accelerate biopharmaceutical manufacturing innovations and
establish an international, leading workforce to fundamentally
strengthen the U.S. biopharmaceutical industry. NIIMBL has an
extensive network of more than 140 academic and industry partners
within the U.S., including biopharmaceutical companies, academic
institutions, research laboratories and non-profit organizations.
To learn more, visit www.NIIMBL.org.
“Our member community is working in a variety of
ways to prevent, reduce and combat pandemics like COVID-19. We
welcome iBio to our community of innovators in the
biopharmaceutical manufacturing space,” said Kelvin H. Lee, NIIMBL
Institute Director.
NIIMBL is the second Manufacturing USA member
institute that iBio has joined in recent months. In December 2019,
iBio also became a part of Manufacturing USA’s biofabrication
initiative, the Advanced Regenerative Manufacturing Institute,
which is supporting the development of next-generation
manufacturing processes and technologies for cells, tissues and
organs.
Mr. Isett added, “Given Manufacturing USA’s
increasing COVID-19 response efforts, we are honored to expand our
involvement by joining NIIMBL as American companies with enabling
technologies work together to fight the pandemic. To that end, in
addition to work on our proprietary VLP vaccine, we are ready to
make the FastPharming System available to other
COVID-19 vaccine and therapeutic developers on a contract
manufacturing basis to help speed their products to market as
well.”
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 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 factories capable of rapid delivery of
medical countermeasures in response to a disease pandemic. 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 and IBIO-200, a COVID-19 vaccine.
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.
Contacts:
Stephen KilmeriBio, Inc.Investor Relations(646)
274-3580 skilmer@ibioinc.com
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