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iBio Appoints James Abbey, Ph.D. as Vice President of Strategic Business Development

NEW YORK, Oct. 02, 2017 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSE AMERICAN:IBIO), a leading provider of plant-based biotechnology for developing and manufacturing biological products, announced today the appointment of James Abbey, Ph.D. as Vice President of Strategic Business Development. Dr. Abbey’s background includes in-depth experience and leadership of strategic partnership and growth opportunities for major medical research and development institutions.

Prior to joining iBio, Dr. Abbey served as the Director for Global and Corporate Partnerships for the Texas A&M University System, where he established and managed key collaborations with major global organizations across industry and academia, drawing in more than $100 million in research funding to support the University System’s research initiatives. He also previously served as the International Strategic Collaborations Adviser and Director for the Texas/UK Collaborative & International Collaboration at Swansea University in Wales, United Kingdom. In that role, he helped establish Europe’s first Center for NanoHealth and led the creation of the Texas/UK Research Collaborative & International Collaboration, which brings together leading medical research institutions from the United Kingdom and Texas to harness their collective experience and excellence for the sake of continued innovation and development.

“We are very pleased to have James join the iBio team at this time,” commented B. Kay, CEO and Executive Chairman. “He has a proven track record of successfully executing domestic and international strategic business development collaborations. Adding James’ capabilities to our recently-achieved capacity for multiple, concurrent product development projects at cGMP quality is expected to accelerate growth of our CDMO business.”

Dr. Abbey holds a Ph.D. in Nanotechnology from Swansea University in Wales United Kingdom, a M.B.A. from the University of Wales, United Kingdom, and a B.S. from the University of North Texas. He also holds research affiliations with Houston Methodist Hospital Research Institute as Assistant Affiliate Member and is an Adjunct Professor in the College of Veterinary Medicine at Texas A&M University.

About iBio, Inc.

iBio, a leader 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. iBio applies its 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.

FORWARD-LOOKING STATEMENTS

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.

ICR, Inc. (Investor and Media Inquiries):

Stephanie Carrington
Tel. +1 646-277-1282
stephanie.carrington@icrinc.com

James Heins
Tel. +1 203-682-8251
James.Heins@icrinc.com

Source:iBio, Inc.