iBio Expands Immuno-Oncology Pipeline With RubrYc Deal
- iBio Inc (NYSE: IBIO) has signed an exclusive license agreement with RubrYc Therapeutics Inc for RTX-003, an immunotherapy candidate targeting regulatory T cells (Tregs).
- Related: IBio Adds Three Cancer Antibody Programs.
- iBio plans to use its development and manufacturing capabilities to advance anti-CD25 antibody RTX-003 as IBIO-101 in the Phase 1 trial.
- Initiation of IND-enabling studies is expected by mid-2022.
- The partnership also includes an option agreement for iBio to license additional antibodies built using RubrYc's artificial intelligence-based antibody discovery platform.
- As part of the agreements, iBio paid $5 million upfront, with an additional $2.5 million commitment for December 2021. iBio will also acquire an equity stake in RubrYc.
- RubrYc is eligible to receive certain pre-specified payments upon achievement of development milestones for IBIO-101, as well as royalties on net sales of that molecule and other licensed antibodies.
- Price Action: IBIO shares are up 1.98% at $1.28 during the market session on the last check Wednesday.
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