Full Press Release Details
Announces Proposed Public Offering of Common Stock
Texas / December 7, 2020 / (GLOBE NEWSWIRE) / iBio, Inc. (NYSEA:IBIO) ("iBio" or the "Company"), a biotech
innovator and biologics contract manufacturing organization, today
announced an underwritten public offering of its common stock. In addition, iBio has granted the underwriter a 30-day option to
purchase up to an additional 15% of the number of shares of its common stock offered in the public offering.
Fitzgerald & Co. is acting as the sole book-running manager for the offering.
iBio anticipates using the net proceeds
from the offering to accelerate development of its biotherapeutic and vaccine candidates, in-licensing of biopharmaceutical
assets, including, but not limited to, those in oncology, fibrotic, and infectious diseases, and working capital needs and
for other general corporate purposes, including acquisitions and investments in other businesses.
securities described above are being offered by iBio pursuant to a shelf registration statement on Form S-3 previously filed with,
and declared effective by, the Securities and Exchange Commission (the "SEC"). A preliminary prospectus supplement
related to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Copies
of the preliminary prospectus supplement and the accompanying base prospectus relating to this offering may be obtained, when
available, from Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 6th floor, New York, NY 10022; Email: prospectus@cantor.com.
press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
is a global leader in plant-based biologics manufacturing. Its FastPharming System combines
vertical farming, automated hydroponics, and glycan engineering technologies to rapidly deliver high-quality monoclonal antibodies,
vaccines, bioinks and other proteins. iBio is developing proprietary products on the FastPharming Platform, which
include biopharmaceuticals for the treatment of fibrotic and infectious diseases, amongst others. The Company's subsidiary,
iBio CDMO LLC, provides FastPharming Contract Development and Manufacturing Services along with the Glycaneering Development
Service for engineering high-performance recombinant glycoproteins.
statements in this press release constitute "forward-looking statements" within the meaning of the federal
securities laws. Words such as "may," "might," "will," "should,"
"believe," "expect," "anticipate," "estimate," "continue,"
"predict," "forecast," "project," "plan," "intend" or similar
expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These
forward-looking statements are based upon current estimates and assumptions and include statements regarding completion of
the offering and the anticipated use of proceeds. While the Company believes these forward-looking statements are reasonable,
undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on
the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are
difficult to predict that could cause actual results to differ materially from current expectations and assumptions from
those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ
materially from current expectations include, among others, changes to
the offering as a result of market conditions or for other reasons, the risk that the offering will not be consummated, the
Company's ability to obtain regulatory approvals for commercialization of its product candidates, including its
infectious disease vaccines, or to comply with ongoing regulatory requirements, regulatory limitations relating to its
ability to promote or commercialize its product candidates for specific indications, acceptance of its product candidates in
the marketplace and the successful development, marketing or sale of products, its ability to maintain its license
agreements, the continued maintenance and growth of its patent estate, its ability to establish and maintain collaborations,
its ability to obtain or maintain the capital or grants necessary to fund its research and development activities,
competition, its ability to retain its key employees or maintain its NYSE American listing, and the other factors discussed
in the Company's Annual Report on Form 10-K for the year ended June 30, 2020 and the Company's subsequent filings
with the SEC, including subsequent periodic reports on Form 10-Q and Form 8-K. The information in this release is provided
only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in
this release on account of new information, future events, or otherwise, except as required by law.