iBio Announces Appointment of Randy J. Maddux as Chief Operating Officer
November 03 2020 - 7:30AM
iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), a biotech
innovator and biologics contract manufacturing organization, today
announced the appointment of Randy J. Maddux as its Chief Operating
Officer (“COO”), effective December 1, 2020.
Mr. Maddux has more than 20 years of global
biologics drug development and manufacturing, business development
and relationship management experience. He was most recently SVP
and Chief Manufacturing Officer at Aptevo Therapeutics, where he
led the company’s quality; process development; analytical
development and formulation; engineering and facilities; and supply
chain functions. Mr. Maddux was previously VP and Site Director at
GlaxoSmithKline, where he led the largest biopharmaceutical
development and manufacturing site within the GSK manufacturing
network and was instrumental in launching a successful contract
development and manufacturing (“CDMO”) services business. Prior to
GSK, he was VP Quality and Operations at Human Genome Sciences and
held positions of increasing responsibility within Biogen’s Quality
organization. During his career, Mr. Maddux has served in key roles
supporting the licensure and launch of several products including
Avonex® (interferon beta-1a), Tysabri® (natalizumab), Benlysta
(belimumab) and Abthrax (raxibacumab). He holds an MBA in
Operations and Statistics from Duke University, Fuqua School of
Business and a BS Professional in Chemistry from East Carolina
University.
“We are delighted to welcome Mr. Maddux as COO,”
said Tom Isett, Chairman & CEO of iBio. “In addition to his
broad operational experience that ranges from site start-ups, to
large facilities and manufacturing services, Mr. Maddux brings deep
technical expertise and a strategic approach to biologics drug
development. His insights and experience should be invaluable as
iBio continues to grow its pipeline of proprietary
biopharmaceuticals and expand its CDMO services business.”
Mr. Maddux commented, “I am very much looking
forward to bringing my expertise and experience to the team, and
helping iBio deploy its unique plant-based manufacturing
technologies as a fast, scalable way to advance biologics drug
development.”
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. The Company’s
subsidiary, iBio CDMO LLC, provides FastPharming
Contract Development and Manufacturing Services. iBio’s
Glycaneering 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 vaccines for infectious
diseases. For more information, visit www.ibioinc.com.
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 the expected
contribution of Mr. Maddux. 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, the contribution of Mr. Maddux to iBio’s
management team, 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 Forms 10-Q
and 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)
274-3580 skilmer@ibioinc.com
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