iBio Announces Sale of Preclinical PD-1 Agonist Antibody Program to Otsuka [Yahoo! Finance]
iBio, Inc. (IBIO)
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ir.ibioinc.com
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Source: Yahoo! Finance
BRYAN, Texas and SAN DIEGO, Feb. 26, 2024 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), an AI-driven innovator of precision antibody immunotherapies, announces today that it has entered into an asset purchase agreement (“Agreement”) with Otsuka Pharmaceutical Co., Ltd. (“Otsuka”), pursuant to which Otsuka acquired iBio's assets related to its early-stage programmed cell death protein 1 (“PD-1” ) agonist program. The transaction closed on February 25, 2024. Under the terms of the Agreement, iBio will receive an upfront payment of $1.0 million in cash at closing. iBio will also be eligible to receive additional contingent cash payments totaling up to $52.5 million upon the achievement of certain pre-specified clinical development and commercial milestones. PD-1 is a pivotal checkpoint in the immune system, acting as a type of "off switch" that helps keep the cells from attacking other cells in the body. By agonizing or enhancing the signaling of PD-1, it is
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- iBio, Inc. (NYSE: IBIO) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- iBio, Inc. (NYSE: IBIO) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- iBio, Inc. (NYSE: IBIO) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
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- iBio, Inc. (NYSE: IBIO) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
IBIO
Sec Filings
- 4/26/24 - Form 4
- 4/25/24 - Form 424B3
- 4/25/24 - Form EFFECT
- IBIO's page on the SEC website