Full Press Release Details
Appoints William D. Clark to its Board of Directors
- Industry veteran adds deep expertise
in immuno-oncology to the Board -
Texas / August 26, 2021 / (GLOBE NEWSWIRE) / iBio, Inc. (NYSEA:IBIO) ("iBio" or
the "Company"), a developer of next-generation biopharmaceuticals and pioneer of the sustainable FastPharming
Manufacturing System , announced today the appointment of William D. (Chip)
Clark to its Board of Directors, effective immediately.
in building immunotherapy discovery and development capabilities will be invaluable to our team, especially as we leverage our high-throughput
discovery platform to develop iBio's proprietary, next-generation oncology therapies," said Tom Isett, Chairman & CEO
of iBio. "Given his significant experience leading clinical-stage companies, we believe Chip's insights will be critical as
we seek to advance IBIO-101 and our other therapeutic candidates through the clinic."
Mr. Clark has more than
30 years of biotechnology and pharmaceutical experience, with a focus on business development, commercialization, strategic planning,
and general management. Since 2011, he has served as the President and Chief Executive Officer of Nasdaq-listed biopharmaceutical company,
Genocea Biosciences, Inc. ("Genocea"). In that role, among other accomplishments, he executed Genocea's successful strategic
pivot from infectious disease to immuno-oncology. Prior to joining Genocea, Mr. Clark was Chief Business Officer at Vanda Pharmaceuticals
Inc. ("Vanda"), a company he co-founded in 2004. There, he played central roles in completing the company's 2006 Nasdaq
initial public offering and its 2009 out-licensing deal with Novartis Pharma AG, from which Vanda received an upfront payment of $200
million, plus contingent additional future milestone payments totaling up to $265 million. Previously, he was a Principal at Care Capital,
LLC, a venture capital firm investing in biopharmaceutical companies. Earlier in his career, he spent 10 years at SmithKline Beecham Corporation
(now part of GlaxoSmithKline plc) in a variety of business development roles. Mr. Clark holds an MBA from The Wharton School at the University
of Pennsylvania and a BA from Harvard University.
Mr. Clark commented,
"Combining iBio's new discovery engine with the ability to increase speed-to-clinic' via the scalable FastPharming
Manufacturing System is a compelling proposition that has the potential to fundamentally change the cancer drug development paradigm.
I look forward to supporting that effort, as well as iBio's biopharmaceutical development activities in fibrotic and infectious
iBio is a developer of next-generation biopharmaceuticals
and a pioneer in sustainable, plant-based biologics manufacturing. Its FastPharming System combines
vertical farming, automated hydroponics, and novel glycosylation technologies to rapidly deliver high-quality monoclonal antibodies,
vaccines, bioinks and other proteins. iBio is developing proprietary biopharmaceuticals for the treatment of cancers, as well as fibrotic
and infectious diseases. The Company's subsidiary, iBio CDMO LLC, provides FastPharming Contract Development
and Manufacturing Services along with Glycaneering Development Services for advanced recombinant protein design.
For more information, visit www.ibioinc.com.
FORWARD-LOOKING STATEMENTS
Certain 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 the expected contribution of Mr. Clark. 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, the contribution of Mr. Clark to the Board, the Company's ability to obtain regulatory approvals
for commercialization of its product candidates, including its COVID-19 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, subsequent periodic reports on Forms 10-Q and 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.