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 *
Elliott Arthur Y
   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
_____ Officer (give title below) _____ Other (specify below)
(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.
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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 V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) $ 14 02/20/2019   D     6,000   (1) 07/10/2020 Common Stock 6,000 (2) 34,500 (3) D  
Stock Option (right to buy) $ 0.93 02/20/2019   A   4,500     (4) 02/20/2024 Common Stock 4,500 (5) 34,500 (3) D  
Stock Option (right to buy) $ 19.6 02/20/2019   D     6,000   (1) 10/21/2021 Common Stock 6,000 (2) 34,500 (3) D  
Stock Option (right to buy) $ 0.93 02/20/2019   A   4,500     (4) 02/20/2024 Common Stock 4,500 (5) 34,500 (3) D  
Stock Option (right to buy) $ 11 02/20/2019   D     6,000   (1) 07/24/2022 Common Stock 6,000 (2) 34,500 (3) D  
Stock Option (right to buy) $ 0.93 02/20/2019   A   4,500     (4) 02/20/2024 Common Stock 4,500 (5) 34,500 (3) D  
Stock Option (right to buy) $ 5 02/20/2019   D     6,000   (1) 07/16/2023 Common Stock 6,000 (2) 34,500 (3) D  
Stock Option (right to buy) $ 0.93 02/20/2019   A   4,500     (4) 02/20/2024 Common Stock 4,500 (5) 34,500 (3) D  
Stock Option (right to buy) $ 4.9 02/20/2019   D     6,000   (1) 09/05/2024 Common Stock 6,000 (2) 34,500 (3) D  
Stock Option (right to buy) $ 0.93 02/20/2019   A   4,500     (4) 02/20/2024 Common Stock 4,500 (5) 34,500 (3) D  
Stock Option (right to buy) $ 17.2 02/20/2019   D     10,000   (1) 09/04/2025 Common Stock 10,000 (2) 34,500 (3) D  
Stock Option (right to buy) $ 0.93 02/20/2019   A   7,500     (4) 02/20/2024 Common Stock 7,500 (5) 34,500 (3) D  
Stock Option (right to buy) $ 4 02/20/2019   D     6,000   (1) 05/01/2027 Common Stock 6,000 (2) 34,500 (3) D  
Stock Option (right to buy) $ 0.93 02/20/2019   A   4,500     (4) 02/20/2024 Common Stock 4,500 (5) 34,500 (3) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Elliott Arthur Y
C/O IBIO, INC.
600 MADISON AVENUE, SUITE 1601
NEW YORK, NY 10022		   X      

Signatures

 /s/ Arthur Y. Elliott   05/31/2019
**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 three equal annual instalments on the anniversary of the 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.

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