Ibio Inc (NYSEMKT:IBIO) has recently reached an agreement with Caliber Biotherapeutics LLC, to assist in the clinical development of IBIO-CFB03. The treatment would be the first proprietary anti-fibrosis product. The materials produced by Caliber for the treatment would be the ones used for initial clinical trials and toxicology studies.
IBIO is the only company licensed to develop patented therapies, from Dr. Feghali-Bostwick. The treatments are especially aimed at treating fibrotic diseases. Dr. Feghali has been herself involved with iBio for devising applications where IBIO-CFB03 could be used. At the moment, they have been targeting sclerosis, idiopathic pulmonary fibrosis and scleroderma. Dr. Feghali also plans to use her position, as Prof. of Medicine in the Division of Rheumatology and Immunology at the University of South Carolina, to conduct the clinical trials for the drug at her university.
iBio has been making progress with its therapeutics for fibrosis since the past year. It began the expansion process by acquiring technology collaborations with Novici Biotech LLC. The two companies successfully merged iBio’s proprietary iBio launch platform, with optimization technology from Novici.
The company also moved on to acquire the services of CBR International Corporation for strategic regulatory and clinical services. iBio had also been successful in making a Clinical Advisory Board, comprised of internationally recognized experts in fibrotic diseases. The board was given the objective to assist in clinical product development and human trial design.
The new deal with Caliber will put the world’s largest plant-made pharmaceutical protein manufacturing facility at iBio’s disposal. So far, this facility has been supported and used by the Cancer Prevention and Research Institution Texas, DARPA and other life science investors. Caliber, with iBio and Novici, has also been recently working on using antibodies for fighting the Ebola virus. The deal, also includes iBio granting a license to caliber to make use of the company’s patented products for drug development.
Ibio Inc (NYSEMKT:IBIO) closed at $1.13, after gaining 5.71% on April 27. The company has 73.98 million shares being traded in the market, with a 52-week range of $0.24-$3.48.
