iBio Announces Plasma Protein Development on its iBioLaunch Platform
NEWARK, Del.--(BUSINESS WIRE)--Jul 11, 2011 - iBio, Inc. (NYSE AMEX: IBIO) today announced successful production of human plasma proteins using its proprietary iBioLaunch technology. Human alpha 1-antitrypsin and human C1 esterase inhibitor were successfully produced at high yield in green plants via the Company's proprietary iBioLaunch technology. Both of these proteins are important therapeutic products, but until now they have been made from human blood.
These positive results were realized in iBio's ongoing development program in which various product candidates are being advanced toward regulatory approval on the iBioLaunch platform, each chosen for its evident commercial value and its utility in representing a class of products that is expected to become an important market for iBio and its collaborators.
“The efficiency of iBio's technology offers traditional plasma protein producers the opportunity to move away from reliance on the human blood supply and introduce recombinant alternatives free of any animal or human cell or tissue components,” said Robert Kay, iBio's Chairman and Chief Executive Officer. “This is particularly important to physicians and patients since products made from human blood may contain infectious agents such as viruses that can cause disease.”
Plasma-derived C1esterase inhibitor is an Orphan Drug approved by the FDA to treat or prevent the symptoms of hereditary angioedema (HAE). In addition, this protein has been used in Europe for more than thirty-five years to treat acute symptoms of HAE, and is the subject of multiple research programs investigating its potential use in the treatment of other inflammatory diseases. Annual global sales of HAE treatments are expected to exceed $1 billion as new treatment options penetrate the market.
Plasma-derived alpha 1-antitrypsin is supplied by several companies for treatment of emphysema due to deficiency of this protein, and several preclinical and clinical research programs suggest it also may be useful in additional applications such as the treatment of diabetes and certain types of asthma. Worldwide annual sales of alpha 1-antitrypsin are approximately $500 million.
iBio's business development program is now addressing all biologics – monoclonal antibodies, other therapeutics, and vaccines – on the basis of the broad product applicability of its iBioLaunch platform. iBio expects to establish commercial relationships in each of these markets on the basis of the competitive advantages of its platform and the products it enables versus alternatives. iBio expects to share in the increased value it brings to its partners and collaborators through typical commercial terms, including upfront license fees, milestone payments, service revenue when technology transfer is required, and royalties on end product sales.
About iBio, Inc.
iBio develops and offers product applications of its iBioLaunch™ platform, providing collaborators full support for turn-key implementation of its technology for both proprietary and biosimilar products. The iBioLaunch platform is a proprietary, transformative technology for development and production of biologics using transient gene expression in unmodified green plants. Advantages over other systems include: success with proteins difficult or impossible to produce with other methods; broadly applicable to biologics, including monoclonal antibodies, other therapeutic proteins and vaccines; enables rapid development and validation of modular, scalable, and optionally robotic, multi-product manufacturing facilities; production time measured in weeks instead of months or more. Additional benefits include a practically unlimited surge capacity for remedial action against bioterrorism and pandemic disease; product entry that is unconstrained by traditional process patents, and significantly lower capital and operating costs for comparable production. Further information is available at: www.ibioinc.com.
Statements included in this news release related to iBio, Inc. may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand, and the Company's ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company's financial results can be found in the company's Reports filed with the Securities and Exchange Commission.
Posted: July 2011