According to filings with the U.S. Securities and Exchange Commission, iBio is raising $10,000,000.00 in new funding. Sources indicate that as part of senior management Chief Financal Officer, Felipe Duran played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.

About iBio
At iBio, we are using our Discovery Platform to tackle complex and challenging drug targets, with the goal of developing safer and more effective immunotherapies for difficult-to-treat cancers. We envision a world where drug discovery is not left to chance but guided by artificial intelligence to make therapeutic development smarter, more precise, and ultimately faster. With our Discovery Platform, we are pursuing hard-to-drug targets with greater potential and less competition. We have nine immuno-oncology candidates in our pipeline, including those for the potential treatment of solid tumors, glioblastoma, and head and neck cancers. An essential challenge to developing antibody drugs is that traditional discovery technologies employ a high degree of randomness. Creating an antibody with a set of desired qualities requires repeated attempts until the optimal result is achieved, often by chance. While this approach has yielded valuable therapeutics in the past, that outcome is rare, with fewer than 1 in 1,000 targets ever reaching the clinic. Traditional antibody development methods are time-consuming and costly, and we believe ultimately produce fewer potentially life-saving drugs than possible. We believe that our Discovery Platform offers the precision required to solve this problem while also identifying the most challenging targets.

To learn more about iBio, visit http://www.ibioinc.com

Contact:
Felipe Duran, Chief Financal Officer
979-446-0027

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