iBio Announces Sale of Preclinical PD-1 Agonist Antibody Program to Otsuka
BRYAN, Texas and SAN DIEGO, Feb. 26, 2024 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), an AI-driven innovator of precision antibody immunotherapies, announces today that it has entered into an asset purchase agreement (“Agreement”) with Otsuka Pharmaceutical Co., Ltd. (“Otsuka”), pursuant to which Otsuka acquired iBio’s assets related to its early-stage programmed cell death protein 1 (“PD-1” ) agonist program. The transaction closed on February 25, 2024.
- BRYAN, Texas and SAN DIEGO, Feb. 26, 2024 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), an AI-driven innovator of precision antibody immunotherapies, announces today that it has entered into an asset purchase agreement (“Agreement”) with Otsuka Pharmaceutical Co., Ltd. (“Otsuka”), pursuant to which Otsuka acquired iBio’s assets related to its early-stage programmed cell death protein 1 (“PD-1” ) agonist program.
- Under the terms of the Agreement, iBio will receive an upfront payment of $1.0 million in cash at closing.
- However, unlike PD-1 antagonists used in immuno-oncology, PD-1 agonists, like the one iBio is selling to Otsuka, are difficult to find.
- At the same time, it provides a path forward for the PD-1 agonist program via further development by Otsuka.”