iBio Appoints Robert M. Lutz as Chief Financial & Business Officer
February 16 2021 - 08:00AM
iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), a biotech
innovator and biologics contract manufacturing organization, today
announced the appointment of Robert M. Lutz as its Chief Financial
& Business Officer (“CFBO”), effective March 4, 2021.
“I am pleased to welcome Rob to iBio where we
expect he will make an immediate impact on our business during this
transformative time,” said Tom Isett, Chairman & CEO of iBio.
“His deep experience across corporate finance and business
development functions, breadth of public company experience, and
demonstrated expertise in building product portfolios is a
tremendous fit for iBio as we seek to execute on our new business
model.”
Mr. Lutz brings more than 25 years of experience
to the Company, joining most recently from Strongbridge Biopharma
plc (“Strongbridge”), a Nasdaq-listed, commercial-stage
biopharmaceutical company focused on rare diseases. He served as
CFO since August 2019, and prior to that, as Chief Business Officer
since October 2014. During his tenure, he led the search,
evaluation, contracting, and financing of multiple assets which
proved to be critical growth drivers for Strongbridge.
Before joining Strongbridge, Mr. Lutz spent more
than a decade at Shire Pharmaceuticals (“Shire”) in leadership
positions with global responsibilities, including identifying
opportunities for acquisition, licensing, partnership and
development for Shire’s largest business unit (Neuroscience) and
the financial management of approximately $5 billion in revenue for
its Specialty Pharmaceuticals division. Prior to joining Shire, Mr.
Lutz served in a variety of financial, strategic and executive
positions after having started his career at Goldman Sachs &
Company. He holds an MBA from the Kellogg School of Management and
a BA in Economics and Computer Science from Amherst College.
“It is an exciting time to be joining iBio,” Mr.
Lutz commented. “There is a unique opportunity to leverage the
strengths of the Company’s high-speed, plant-based
biopharmaceutical production capabilities across multiple product
categories and therapeutic areas. I look forward to working with
the team to expand the product pipeline, accelerate growth, and
enhance value for our shareholders.”
As CFBO, Mr. Lutz will lead iBio’s finance
organization and be responsible for building strong licensing
capabilities and the financial planning & analysis function, as
well as supporting iBio’s relationships with the investment
community.
About iBio, Inc.
iBio is a global leader in plant-based biologics
manufacturing. Its FastPharming® System combines
vertical farming, automated hydroponics, and novel glycosylation
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, including
Glycaneering™ Development Services for advanced
recombinant protein design. 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. Lutz, executing the Company’s new business
model, and expanding the Company’s product pipeline, accelerating
growth, and enhancing value for our shareholders. 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. Lutz,
the Company’s ability to expand its product pipeline, 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)
274-3580 skilmer@ibioinc.com
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