Leading Independent Proxy Advisory Firm, Glass Lewis, Recommends iBio Shareholders Vote “FOR” All Proposals Ahead of Annual Meeting
November 17 2021 - 4:30PM
iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), a developer of
next-generation biopharmaceuticals and pioneer of the sustainable,
plant-based
FastPharming Manufacturing System®,
announced today that Glass Lewis and Co., LLC (“Glass Lewis”), a
leading independent provider of proxy research and vote
recommendations to the investment community, has recommended that
the Company’s stockholders vote “FOR” all proposals put forth in
the definitive proxy statement prior to its Annual Meeting of
Stockholders to be held on December 9, 2021.
In recommending stockholders vote “FOR” Proposal
4, Glass Lewis noted1:
- “We agree with
the board that it is in the best interest of the Company to reduce
the number of shares of common stock outstanding and thereby
attempt to proportionally raise the per share price of the
Company's common stock.”
- “A higher stock
price may help to increase investor interest, attract and retain
employees and improve the Company's ability to raise additional
capital through equity offerings.”
Tom Isett, Chairman & CEO of iBio,
commented, “We greatly appreciate this third-party, independent
recommendation from Glass Lewis. By approving all of the proposals
on the agenda for the upcoming 2021 Annual Meeting, our
shareholders will be helping us realize our vision of changing the
biologic drug manufacturing paradigm with the
FastPharming System and, as importantly, take
advantage of the tremendous opportunities we see ahead for
addressing major unmet medical needs in oncology, as well as
fibrotic and infectious diseases.”
iBio urges stockholders to vote today to support
our strategic growth plans. Your vote is important, no matter how
many or few shares it represents.
If you have questions, or need
assistance in voting your shares, please contact Okapi Partners at
1-844-203-3605 (toll-fee in the U.S. and Canada), or
+1-212-297-0720 (international), or by email at
info@okapipartners.com.
Important Information
This communication may be deemed to be
solicitation material in connection with the proposals to be
considered at iBio’s 2021 Annual Meeting of Stockholders. In
connection with the proposals, the Company filed a definitive proxy
statement on Schedule 14A with the U.S. Securities and Exchange
Commission (the “SEC”) on October 26, 2021. Shareholders are urged
to read the definitive proxy statement and all other relevant
documents filed with the SEC because they contain important
information about the proposals. An electronic copy of the
definitive proxy statement is available on the Company’s website at
www.ibioinc.com under "SEC Filings" in the Investors section and on
the Company’s EDGAR profile at www.sec.gov.
1 Permission to quote was neither sought nor obtained.
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,
antigens, and other proteins. iBio is developing proprietary
biopharmaceuticals for the treatment of cancers, as well as
fibrotic and infectious diseases. The Company’s wholly-owned
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 anticipated
effects of stockholder approval of matters to be voted on at iBio’s
2021 annual meeting of stockholders (the "Annual Meeting"). 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
Company’s ability to successfully hold its 2021 Annual Meeting, its
ability to implement its development plans, its 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 agreement, 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 and whether the Company will incur
unforeseen expenses or liabilities or other market factors,
successful compliance with governmental regulations applicable to
its manufacturing facilities, competition, its ability to retain
its key employees or maintain its NYSE American listing, its
ability to increase its authorized shares, and the other factors
discussed in the Company’s filings with the SEC including the
Company’s most recent Annual Report on Form 10-K and the Company’s
subsequent filings with the SEC on Forms 10-Q and 8-K. The
information in this release is provided only as of the date of this
release, and the Company undertakes 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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