IBio Expands Cardiometabolic And Obesity Program

(RTTNews) - iBio, Inc. (IBIO), a preclinical stage biotechnology company, Thursday said it has in-licensed a long-acting anti-myostatin antibody, IBIO-600 from AstralBio, Inc.

iBio has initiated a bispecific antibody program to treat obesity and cardiometabolic disorders, leveraging its proprietary drug discovery platform as well as the technology of IBIO-600.

IBIO-600 was identified by AstralBio using iBio's proprietary technology stack and was designed for subcutaneous administration with the potential for an extended half-life.

As per the agreement, iBio has paid an upfront payment of $750,000 in stocks to AstralBio. AstralBio is also entitled to receive milestone payments of up to $28 million.

The new agreement follows a drug discovery and development partnership the companies had entered into in March last year.