On Thursday, iBio, Inc. (NYSE:IBIO) expanded its cardiometabolic and obesity treatment development program by in-licensing a potentially long-acting anti-myostatin antibody from AstralBio, Inc.
In March, iBio collaborated with AstralBio to discover, engineer, and develop antibodies to treat obesity and other cardiometabolic conditions.
The antibody, now named IBIO-600, was identified by AstralBio using iBio’s proprietary technology stack. It was designed for subcutaneous administration and has the potential for an extended half-life.
AstralBio will receive an upfront payment of $750,000, which iBio has paid by issuing its common stock to AstralBio.
In addition, AstralBio will be eligible for development and commercialization milestone payments totaling up to $28 million.
If iBio sublicenses the licensed product, AstralBio will receive low to mid-single-digit sublicense fees on the proceeds of the sublicense fees.
iBio is solely responsible for the research and development, manufacturing, and commercialization activities of the licensed product.
In parallel, iBio initiated a bispecific antibody program targeting myostatin/activin A to treat obesity and cardiometabolic disorders, leveraging its proprietary Drug Discovery Platform and the technology of IBIO-600.
The myostatin licensing agreement and planned myostatin/activin A bispecific antibody program follows a drug discovery and development collaboration between iBio and AstralBio initiated less than a year ago.
https://finance.yahoo.com/news/nano-cap-ibio-expands-obesity-142418635.html
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.