Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Kay Robert

2. Issuer Name and Ticker or Trading Symbol
iBio, Inc. [IBIO]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Executive Chairman and CEO

(Last)

(First)

(Middle)

C/O IBIO, INC., 600 MADISON AVENUE, SUITE 1601

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2019

(Street)

NEW YORK, NY 10022

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (right to buy)

$ 6.6

02/20/2019

25,000

⁽¹⁾

08/10/2019

Common Stock

25,000

⁽²⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 0.93

02/20/2019

18,750

⁽⁴⁾

02/20/2024

Common Stock

18,750

⁽⁵⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 17.3

02/20/2019

30,000

⁽⁶⁾

08/16/2020

Common Stock

30,000

⁽²⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 0.93

02/20/2019

22,500

⁽⁴⁾

02/20/2024

Common Stock

22,500

⁽⁵⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 30.7

02/20/2019

50,000

⁽⁷⁾

12/30/2020

Common Stock

50,000

⁽²⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 0.93

02/20/2019

37,500

⁽⁴⁾

02/20/2024

Common Stock

37,500

⁽⁵⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 30.7

02/20/2019

50,000

⁽⁷⁾

12/30/2020

Common Stock

50,000

⁽²⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 0.93

02/20/2019

37,500

⁽⁴⁾

02/20/2024

Common Stock

37,500

⁽⁵⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 19.6

02/20/2019

30,000

⁽¹⁾

10/21/2021

Common Stock

30,000

⁽²⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 0.93

02/20/2019

22,500

⁽⁴⁾

02/20/2024

Common Stock

22,500

⁽⁵⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 11

02/20/2019

30,000

⁽¹⁾

07/24/2022

Common Stock

30,000

⁽²⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 0.93

02/20/2019

22,500

⁽⁴⁾

02/20/2024

Common Stock

22,500

⁽⁵⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 5

02/20/2019

30,000

⁽¹⁾

07/16/2023

Common Stock

30,000

⁽²⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 0.93

02/20/2019

22,500

⁽⁴⁾

02/20/2024

Common Stock

22,500

⁽⁵⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 10

02/20/2019

60,000

⁽⁷⁾

09/05/2024

Common Stock

60,000

⁽²⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 0.93

02/20/2019

45,000

⁽⁴⁾

02/20/2024

Common Stock

45,000

⁽⁵⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 17.2

02/20/2019

75,000

⁽⁷⁾

09/04/2025

Common Stock

75,000

⁽²⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 0.93

02/20/2019

56,250

⁽⁴⁾

02/20/2024

Common Stock

56,250

⁽⁵⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 4

02/20/2019

30,000

⁽⁷⁾

05/01/2027

Common Stock

30,000

⁽²⁾

410,000 ⁽³⁾

Stock Option (right to buy)

$ 0.93

02/20/2019

22,500

⁽⁴⁾

02/20/2024

Common Stock

22,500

⁽⁵⁾

410,000 ⁽³⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Kay Robert C/O IBIO, INC. 600 MADISON AVENUE, SUITE 1601 NEW YORK, NY 10022	X		Executive Chairman and CEO

Signatures

/s/ Robert B. Kay		05/13/2019
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Vested in five annual instalments on anniversaries of date of grant.
(2)	On 2/20/19, the issuer canceled, pursuant to the issuer's option exchange program, old stock options in exchange for new stock options, on the basis of three new options in exchange for four old options, for all eligible option holders who elected to participate in the option exchange, including the cancelation of this option grant to the reporting person in exchange for new options.
(3)	Reflects number of securities beneficially owned following all transactions reported on this Form 4.
(4)	Fully vests on first anniversary of grant date.
(5)	On 2/20/19, the issuer issued new stock options, pursuant to the issuer's option exchange program, in exchange for old stock options, on the basis of three new options in exchange for four old options, for all eligible option holders who elected to participate in the option exchange, including this option grant to the reporting person.
(6)	Vested 20% on 7/1/2010 and then in 20% instalments on each anniversary thereof.
(7)	Vested in three equal annual instalments on the anniversary of the date of grant.

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