iBio and CC-Pharming Hold First Design and Strategy Meeting
October 02 2018 - 8:00AM
iBio, Inc. (NYSE AMERICAN:IBIO) today announced the beginning of a
four-day design and strategic planning meeting with executives and
technical experts from CC-Pharming Ltd of Beijing China at iBio’s
development and manufacturing facility in Bryan Texas. The meeting
initiates the first stage of the companies’ business collaboration
and will include work on product, process, and facility design for
a monoclonal therapeutic antibody product: a plant-derived,
bio-better rituximab.
The companies will hold a joint press briefing at 5 p.m. on
Tuesday, October 2, at the Stella Hotel, adjacent to the iBio
site.
The therapeutic antibody is the first product focus of a Master
Joint Development Agreement executed in July between iBio and
CC-Pharming. iBio will provide process development and
manufacturing services at its Texas facility for initial product
development, and will assist CC-Pharming in facility design and
optimization for eventual manufacturing in China. CC-Pharming will
manage all operations in China, with iBio participating through
joint ownership of the China business and ongoing
collaboration.
“We are excited to begin the operational aspects of our
collaboration with CC-Pharming,” said Robert Kay, iBio’s
Chairman and CEO. “We have a shared vision to bring significant
product benefits of iBio’s technology and capabilities, combined
with those of CC-Pharming, to the people of China and to expand our
work with CC-Pharming to achieve solid commercial success for both
companies.”
Rituximab was first approved by the U.S. FDA in 1997 for
treatment of certain B cell non-Hodgkin lymphomas. Since that time,
its clinical uses have expanded to encompass treatment of a range
of autoimmune diseases including certain types of rheumatoid
arthritis. Rituximab has been placed on the World Health
Organization’s List of Essential Medicines, but despite the
development and approval of biosimilar versions, it is still too
expensive for many patients who could benefit from its
use. iBio and CC-Pharming are jointly pursuing the
medical and business goal of introducing a plant-made antibody
superior to rituximab in performance and more affordable than
rituximab in price.
“Our company is committed to developing innovative and
affordable plant-derived biologics. iBio’s superior Technology will
help CC-Pharming rapidly expand its product pipelines to meet the
demand of the market in China,” said Ms. Yujiao Chen, CC-Pharming’s
Vice President for International Business and Intellectual
Property.
CC-Pharming and iBio expect to jointly select additional
products for development and joint exclusive sales in China
using iBio’s proprietary plant-based approach. As demonstrated
by the original design, development and validation of iBio’s
CDMO facility in Bryan, Texas, iBio’s technology and know-how
enables large-scale manufacturing facility development with much
lower capital expenditure and much shorter time to validation than
traditional animal cell methods. CC-Pharming will be the
first company in China to adopt this transient expression platform
approach to manufacturing biopharmaceuticals.
About iBio
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.
Further information is available at: www.ibioinc.com.
About Beijing CC-Pharming Ltd.
CC-Pharming is located in Zhongguancun Biomedical Engineering
Transformation Center, Shunyi District, Beijing, China. The company
is specialized in plant molecular medicine technology research and
product development using proprietary tobacco and lettuce transient
expression platforms, focusing on the use of plant bioreactors for
the development of animal-free, safe, high-value recombinant
protein and peptide product for industrial and clinical
applications. The Company develops innovative indoor vertical
farming system for efficient plant-based expression systems, and
offers therapeutic biomedicine, life science research, cosmetics,
and CRO/CMO services to clients in China.
Further information is available at:
www.cc-pharming.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.
ICR, Inc. (Investor and Media Inquiries)
Stephanie Carrington
Tel. +1 646-277-1282
STEPHANIE.CARRINGTON@ICRINC.COM
James Heins
Tel. +1 203-682-8251
JAMES.HEINS@ICRINC.COM
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