iBio Enters Exclusive License Agreement with AstralBio for Development of Anti-Myostatin Antibody

On December 31, 2024, iBio, Inc. (NYSEMKT:IBIO) announced its entry into an exclusive agreement with AstralBio, Inc., for the development of an anti-Myostatin antibody targeting GDF8 (myostatin). The agreement allows iBio to develop, manufacture, and commercialize products directed to GDF8 containing the licensed antibody for various medical applications.

Under this License Agreement, iBio will have exclusive rights, including sublicensing capabilities, for the development and commercialization of the product worldwide. In consideration for these rights, iBio has agreed to pay AstralBio an upfront license fee of $750,000, to be paid in shares of iBio’s common stock. Additionally, milestone payments of up to $28 million may be made based on specified developmental and commercial achievements.

The License Agreement is structured so that, in the event of sublicensing the product, AstralBio will receive a sublicense fee based on a percentage of the proceeds. The agreement is set to last indefinitely unless terminated earlier according to specified conditions outlined within the contract.

The exclusive License Agreement has led to the naming of the Licensed Product as IBIO-600, which is designed for subcutaneous administration with an extended half-life. Furthermore, iBio has concurrently initiated a program for a bispecific antibody targeting myostatin/activin A, aiming to address obesity and cardiometabolic disorders.

Martin Brenner, CEO and Chief Scientific Officer of iBio, highlighted the swiftness and effectiveness of the collaboration in the development of IBIO-600 and emphasized the potential benefits of the myostatin/activin A bispecific antibody in treating various disorders.

These advancements are part of iBio’s strategic focus on precision antibody immunotherapies for challenging medical conditions. The company’s goal is to expedite drug discovery processes, shorten development timelines, and introduce innovative treatments to the market.

Investors are keen to observe the progress and outcomes of iBio’s collaboration with AstralBio, particularly regarding the potential clinical investigations and further developments of the myostatin antibody program.

For more information about iBio and its ongoing initiatives, interested parties can visit the company’s official website or follow updates on professional networking platforms like LinkedIn. The company assures stakeholders that it will provide updates on any material developments in compliance with regulatory requirements.

The content shared in the foregoing report is based on the material disclosed in the 8-K filing submitted by iBio to the United States Securities and Exchange Commission on December 31, 2024. Documents referenced in the report, such as the Exclusive License Agreement and the Press Release, are available for further review by interested parties as per regulatory guidelines.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read iBio’s 8K filing here.

iBio Company Profile

iBio, Inc, a preclinical stage biotechnology company, engages in the development of artificial intelligence (AI) antibodies solutions for cancer, and other diseases. The company’s technology platforms include EngageTx that provides improved CD3 T-cell engager antibody panel; ShieldTx, an antibody masking technology that enables the creation of conditionally activated antibodies; StableHu, an AI antibody-optimizing technology; and AI epitope steering technology that guides antibodies against the desired regions of the target protein.