Full Press Release Details
IBIO, INC. CLOSES $4,500,000 OFFERING
NEW YORK, NEW YORK, NOVEMBER 30, 2017 - IBIO, INC.
(NYSE AMERICAN: IBIO) ("IBIO" OR THE "COMPANY"), today announced the closing of its previously announced
public offering of 22,500,000 shares of its common stock at a price to the public of $0.20 per common share. Gross proceeds to
the Company from this offering are approximately $4,500,000 before deducting underwriting discounts and commissions and other offering
expenses payable by the Company.
Aegis Capital Corp. acted as the sole book-running manager for
A registration statement on Form S-3 (File
No. 333-200410) relating to these securities has been filed with the Securities and Exchange Commission and became effective
on December 2, 2014.
The offering was made by means of a prospectus
supplement and accompanying prospectus. A copy of the prospectus supplement and accompanying prospectus relating to the offering
may be obtained, when available, by contacting Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New
York, NY 10019, telephone: 212-813-1010, e-mail: prospectus@aegiscap.com. Investors may also obtain these documents at no
cost by visiting the SEC's website at http://www.sec.gov.
This 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.
in developing plant-based biopharmaceuticals, provides a range of product and process development, analytical, and manufacturing
services at the large-scale development and manufacturing facility of its subsidiary iBio CDMO, LLC in Bryan, Texas. The
facility houses laboratory and pilot-scale operations, as well as large-scale automated hydroponic systems capable of growing over
four million plants as "in process inventory" and delivering over 300 kilograms of therapeutic protein pharmaceutical
active ingredient per year.
technology for the benefit of its clients and the advancement of its own product interests. The Company's pipeline is comprised
of proprietary candidates for the treatment of a range of fibrotic diseases including idiopathic pulmonary fibrosis, systemic sclerosis,
and scleroderma. IBIO-CFB03, based on the Company's proprietary gene expression technology, is the Company's lead therapeutic
candidate being advanced for IND development.
Further information is available at: www.ibioinc.com
Cautionary Statement Regarding Forward
This release may contain "forward-looking
statements" that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are identified by certain words or phrases such as "may", "will", "aim", "will likely
result", "believe", "expect", "will continue", "anticipate", "estimate",
"intend", "plan", "contemplate", "seek to", "future", "objective",
"goal", "project", "should", "will pursue" and similar expressions or variations of such
expressions. These forward-looking statements reflect the Company's current expectations about its future plans and performance.
These forward-looking statements rely on a number of assumptions and estimates which could be inaccurate and which are subject
to risks and uncertainties. Actual results could vary materially from those anticipated or expressed in any forward-looking statement
made by the Company. Please refer to the preliminary prospectus supplement, the accompanying prospectus, and the Company's
most recent Forms 10-Q and 10-K and subsequent filings with the SEC for a further discussion of these risks and uncertainties.
The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances
after the date of this release.
Stephanie Carrington
Tel. +1 646-277-1282