iBio Announces Issuance of U.S. Patent Covering Endostatin Peptides for Treating Fibrosis

- Methods for Production in iBio’s FastPharming® System Foundational to Antifibrotic Development Program -

BRYAN, Texas, Nov. 24, 2020 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), a biotech innovator and biologics contract manufacturing organization, today announced that the United States Patent and Trademark Office has issued U.S. Patent No. 10,844,392, entitled “Materials and Methods for Producing Endostatin Fusion Polypeptides in Plant Cells,” which, amongst other claims, covers a novel expression cassette that enhances the yield of endostatin fragments and variants using iBio’s FastPharming^® System.

The claims in the patent are foundational to iBio’s work on its antifibrotic therapies given that the technologies enhance the expression and quality of endostatin-derived E4 antifibrotic peptides fused to human IgG1 when produced in plants. The Company is developing such a molecule as “IBIO-100” for the treatment of fibrotic disorders, including systemic scleroderma and idiopathic pulmonary fibrosis. The ‘392 Patent contains 19 claims and expires in June 2036.

“This patent, and the technologies it covers, advances our work on therapeutic candidates for treating fibrotic disorders by increasing the number of antifibrotic peptide variants that we may select for clinical development,” said Tom Isett, Chairman & CEO of iBio. “iBio can also apply certain claims to other IgG-based molecules manufactured using our FastPharming System, thereby creating the opportunity to secure additional intellectual property based upon composition of matter.”

iBio plans to conduct IND-enabling studies on IBIO-100 in 2021.

About iBio, Inc.

iBio is a global leader in plant-based biologics manufacturing. Its FastPharming^® System combines vertical farming, automated hydroponics, and glycan engineering technologies to rapidly deliver high-quality monoclonal antibodies, vaccines, bioinks and other proteins. The Company’s subsidiary, iBio CDMO LLC, provides FastPharming Contract Development and Manufacturing Services. iBio’s Glycaneering Development Service™ includes an array of new glycosylation technologies for engineering high-performance recombinant proteins. Additionally, iBio is developing proprietary products, which include IBIO-100 for the treatment of fibrotic diseases, and vaccines for infectious diseases. 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 developing “IBIO-100” for the treatment of fibrotic disorders, including systemic scleroderma and idiopathic pulmonary fibrosis, securing additional intellectual property based upon composition of matter by applying certain claims to other IgG-based molecules manufactured using our FastPharming System and plans to conduct IND-enabling studies on IBIO-100 in 2021. 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 conduct additional investigational new drug-enabling studies in the first half of 2021 as planned, 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, the Company’s ability to enroll patients and complete clinical trials on time and achieve desired results and benefits as expected, 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 intellectual property portfolio, 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 risk factors discussed in the Company’s most recent Annual Report on Form 10-K and the Company’s subsequent filings with the SEC, including 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.

Contacts:

Stephen Kilmer
iBio, Inc.
Investor Relations
(646) 274-3580
skilmer@ibioinc.com

Released November 24, 2020