iBio, Inc. (IBIO) Stock Attempts To Bounce Back: Time To Buy Now?
Biologics contract manufacturing and biotech innovator, iBio, Inc. (NYSEAMERICAN:IBIO) has done significant step for leveraging speed of its proprietary, plant-based FastPharmingProtein Expression System
The firm announced it is putting in three anti-cancer targets adding to its new drug discovery capabilities. The company’s efforts to transform drug development paradigm with FastPharming System will be to reduce cost and time as the firm aims to partner with best-in-class technology partners.
Research services agreement between iBio and FairJourney Biologics S.A, leaders in antibody optimisation, was also done recently. This will facilitate access to unique display technologies as well as proprietary antibody libraries.
Martin B. Brenner, DVM, Ph.D., iBio’s Chief Scientific Officer, said that the company believes in combining ‘speed-to-clinic’ benefits as well as Glycaneering Technologies along with antibody optimization technologies to develop cancer therapeutic antibodies,better antibodycytotoxicity.
CEO of FairJourneyAntónioParada opined that the company’s experience in antibody discovery for use in cancer related treatment in recent years, is resulting in fast transition towards the clinic.
Parada expressed excitement on working with an innovator like iBio, which he believes can transform the bioprocess paradigm, harnessing proprietary glycosylation technologies for enhancing human anti-cancer antibody development. FairJourney, founded in 2012, headquartered in Portugal, has grown to over 130 employees over years.
Market Reaction:
On Thursday, IBIO stock jumped 4.50% at $1.39 with more than 2.65 million shares, compared to its average volume of 8.43 million shares. The stock had moved within a range of $1.2900 – 1.4000 after opening the trade at $1.31. Over the past 52-week, the stock has been trading within a range of $1.0300 – 7.4500. The stock is up another 2% in the pre-market session.
