On February 25, 2024, iBio Inc, a Delaware-incorporated biopharmaceutical company, announced the completion of a significant asset sale to Otsuka Pharmaceutical Co., Ltd. The deal involved the sale of iBio's PD-1 agonist assets, which are intellectual property rights related to the company's early-stage programmed cell death protein 1 agonist program. The transaction, which closed on the same day, included an upfront payment of $1 million to iBio, with additional potential contingent payments totaling up to $52.5 million based on the achievement of certain clinical development and commercial milestones. This sale is part of iBio's strategic focus on its proprietary immuno-oncology pipeline and AI-based drug discovery platform. The PD-1 agonist program was initially acquired by iBio from RubrYc Therapeutics...Show More

On February 25, 2024, iBio Inc, a Delaware-incorporated biopharmaceutical company, announced the completion of a significant asset sale to Otsuka Pharmaceutical Co., Ltd. The deal involved the sale of iBio's PD-1 agonist assets, which are intellectual property rights related to the company's early-stage programmed cell death protein 1 agonist program. The transaction, which closed on the same day, included an upfront payment of $1 million to iBio, with additional potential contingent payments totaling up to $52.5 million based on the achievement of certain clinical development and commercial milestones. This sale is part of iBio's strategic focus on its proprietary immuno-oncology pipeline and AI-based drug discovery platform. The PD-1 agonist program was initially acquired by iBio from RubrYc Therapeutics on September 19, 2022, and the sale to Otsuka represents a significant potential source of non-dilutive capital for iBio. The company's press release on February 26, 2024, emphasized the importance of the transaction for both iBio and Otsuka, with iBio's CEO highlighting the validation of their technology stack and the focus on developing their immuno-oncology candidates.