ISS Joins Glass Lewis in Recommending Shareholders Vote “FOR” All Proposals Ahead of iBio’s Upcoming Annual Meeting
November 30 2021 - 8:00AM
iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), a developer of
next-generation biopharmaceuticals and pioneer of the sustainable,
plant-based
FastPharming Manufacturing System®,
today announced that Institutional Shareholder Services, Inc.
(“ISS”) has joined Glass Lewis and Co., LLC (“Glass Lewis”) in
recommending 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.
The voting recommendations of ISS and Glass
Lewis are relied upon by institutional investment firms, mutual
funds, and other fiduciaries globally for independent advice on
shareholder voting and corporate governance. Neither firm has any
business relationship with iBio, and iBio did not engage or
compensate them for their analyses or recommendations.
“We are pleased that the two leading independent
proxy advisory firms have now both affirmed our Board of Director’s
recommendation that all six of the proposals to be voted on at our
upcoming Annual Meeting are in our shareholders’ best interests,”
commented Tom Isett, Chairman & CEO of iBio.
SUPPORT THE PROPOSALS AND HELP IBIO
GROW
General (Ret.) James T. Hill, Presiding Director
of iBio, said, “My fellow Board members and I would like to thank
those stockholders who have already voted in favor of the
proposals. And, to those who have not yet voted, we urge you to
support the proposals and vote ‘FOR’ them now in order to give iBio
the strategic flexibility it needs to grow."
If you have questions, or need
assistance in voting your shares, please contact Okapi Partners at
1-844-203-3605 (toll-free 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.
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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