iBio Appoints William D. Clark to its Board of Directors
August 26 2021 - 7:00AM
iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), a developer of
next-generation biopharmaceuticals and pioneer of the sustainable
FastPharming Manufacturing System®, announced
today the appointment of William D. (Chip) Clark to its Board of
Directors, effective immediately.
“Chip’s experience in building immunotherapy
discovery and development capabilities will be invaluable to our
team, especially as we leverage our high-throughput discovery
platform to develop iBio’s proprietary, next-generation oncology
therapies,” said Tom Isett, Chairman & CEO of iBio. “Given his
significant experience leading clinical-stage companies, we believe
Chip’s insights will be critical as we seek to advance IBIO-101 and
our other therapeutic candidates through the clinic.”
Mr. Clark has more than 30 years of
biotechnology and pharmaceutical experience, with a focus on
business development, commercialization, strategic planning, and
general management. Since 2011, he has served as the President and
Chief Executive Officer of Nasdaq-listed biopharmaceutical company,
Genocea Biosciences, Inc. (“Genocea”). In that role, among other
accomplishments, he executed Genocea’s successful strategic pivot
from infectious disease to immuno-oncology. Prior to joining
Genocea, Mr. Clark was Chief Business Officer at Vanda
Pharmaceuticals Inc. (“Vanda”), a company he co-founded in 2004.
There, he played central roles in completing the company’s 2006
Nasdaq initial public offering and its 2009 out-licensing deal with
Novartis Pharma AG, from which Vanda received an upfront payment of
$200 million, plus contingent additional future milestone payments
totaling up to $265 million. Previously, he was a Principal at Care
Capital, LLC, a venture capital firm investing in biopharmaceutical
companies. Earlier in his career, he spent 10 years at SmithKline
Beecham Corporation (now part of GlaxoSmithKline plc) in a variety
of business development roles. Mr. Clark holds an MBA from The
Wharton School at the University of Pennsylvania and a BA from
Harvard University.
Mr. Clark commented, “Combining iBio’s new
discovery engine with the ability to increase ‘speed-to-clinic’ via
the scalable FastPharming Manufacturing System is
a compelling proposition that has the potential to fundamentally
change the cancer drug development paradigm. I look forward to
supporting that effort, as well as iBio’s biopharmaceutical
development activities in fibrotic and infectious diseases.”
About iBio, Inc.
iBio is a developer of next-generation
biopharmaceuticals and a pioneer in sustainable, 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 biopharmaceuticals for the treatment of cancers, as
well as fibrotic and infectious diseases. The Company’s subsidiary,
iBio CDMO LLC,
provides FastPharming Contract
Development and Manufacturing Services along with
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. Clark. 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. Clark to the Board,
the Company’s ability to obtain regulatory approvals for
commercialization of its product candidates, including its COVID-19
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, 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)
274-3580skilmer@ibioinc.com
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