iBio has completed the sale of its Bryan, Texas manufacturing facility to The Board of Regents of Texas A&M University System for $8.5 million on May 31, 2024. The transaction, combined with $915,000 in restricted cash and the issuance of pre-funded warrants worth $4.5 million to Woodforest National Bank, eliminates approximately $13.2 million in secured debt from iBio's balance sheet.The sale marks iBio's complete transition from a CDMO to an AI-driven biologics company, with headquarters now relocated to San Diego. This strategic move follows recent significant developments, including a $15 million private investment secured in March 2024, approximately $4.3 million from exercised warrants, and partnerships with AstralBio for cardio-metabolic therapeutics development and Otsuka Pharmaceuticals for its PD-1 agonist antibody program.

iBio has completed the sale of its Bryan, Texas manufacturing facility to The Board of Regents of Texas A&M University System for $8.5 million on May 31, 2024. The transaction, combined with $915,000 in restricted cash and the issuance of pre-funded warrants worth $4.5 million to Woodforest National Bank, eliminates approximately $13.2 million in secured debt from iBio's balance sheet.The sale marks iBio's complete transition from a CDMO to an AI-driven biologics company, with headquarters now relocated to San Diego. This strategic move follows recent significant developments, including a $15 million private investment secured in March 2024, approximately $4.3 million from exercised warrants, and partnerships with AstralBio for cardio-metabolic therapeutics development and Otsuka Pharmaceuticals for its PD-1 agonist antibody program.